A new survey showing huge pay gaps between UK bosses and their staff has found that thecountry’stop 350 company execs are being paid on average 53 times more than their mid-level counterparts.
A poll for the High Pay Centre shared exclusively with The Guardian found that huge salary gaps have become commonplace in large UK businesses and that the majority of Brits did not approve.
It comes as many up and down the country are facing the choice between heating and eating, as energy bills skyrocket and the value of UK pension and out-of-work benefits see the biggest fall in 50 years.
According to the new survey, 63% of workers believe that CEOs shouldn’t be earning more than 10 times that of their staff, and only 3% of people deem it acceptable for them to be paid over 50 times the company’s average wage.
Image: Mutual Interest Media
In reality, research published by the same think tank in 2020 shows many top-level bosses are already being paid 50 times more – with some earning as much as 100 times their company’s median salary.
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High Pay Research conducted two years ago found a total of 43 bosses of FTSE 350 companies received more than 100 times as much as the average employee, whilst on average bosses are paid at least 53 times more.
It also found that on average an FTSE 100 chief executive makes more money in four days than an average UK worker will over the course of a year.
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Many respondents felt that policy measures aimed at distributing wealth more evenly could help to raise living standards for people across the UK.
Luke Hildyard, the director of the High Pay Centre, told The Guardian that the research revealed: “the extent to which the lives of those at the top and those of everybody else have become so far removed from each other”.
He added: “That’s probably not a healthy development.
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Image: PixaHive
“Britain’s biggest employers dedicate a significant amount of their budget to the pay of a small number of top earners.
“Redirecting some of this money to low- and middle-income workers would be a good way to raise living standards and address the cost of living crisis but it will require policymakers and business leaders to be a bit more open-minded about whether those at the top really need to be paid so much.”
Frances O’Grady, the general secretary of the TUC, added: “The whole workforce deserves to share in the success of a firm, not just those in the boardroom. But over the years executive pay has raced ahead of other workers – and now it’s at stratospheric levels.
“It’s time to set a maximum ratio between the top earner in each firm and other workers. There should be workers on remuneration committees, to ground decisions in the interests of the whole workforce.
Police appeal after teenage girl reports being sexually assaulted in a Stretford park
Emily Sergeant
An urgent appeal for information has been issued after a teenage girl reported being sexually assaulted in a park in Stretford.
Greater Manchester Police (GMP) explained that officers attended Victoria Park, in the Stretford area, earlier this week on Tuesday night (21 July) following reports that a teenage girl had been sexually assaulted.
The incident is reported to have happened between 5:30pm and 5:44pm, and the offender is described to be an older white male of a large build who was wearing a black t-shirt.
No arrests have been made at this time, GMP confirmed, and enquiries are ongoing.
As police continue their investigation at pace, a public appeal for information has been issued in the hopes that someone can come forward and provide the details needed to track down the offender.
“Detectives are pursuing multiple lines of enquiry and the victim is being fully supported by specially trained officers,” explained Detective Superintendent Suzanne Keenaghan, from GMP’s Trafford district.
“There will be an increased police presence in and around Victoria Park while officers continue their investigation and provide reassurance to the local community.”
Police say they are ‘particularly keen’ to hear from anyone who was in the park at the time, or who may have CCTV, doorbell, mobile phone or dashcam footage from the area.
Anyone with information can speak to police officers at the scene, call 101, or contact GMP via LiveChat at gmp.police.uk, quoting log 3029 of 21/07/26.
Featured Image – Wikimedia Commons
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Business rates for pubs, clubs, and live music venues to be slashed by 20% next year
Emily Sergeant
Business rates for pubs, clubs, and live music venues across England are set to be slashed by 20% next year.
Continuing on with his week of, seemingly, introducing a new measure a day amid the cost of living crisis, Prime Minister Andy Burnham has now announced that he has taken action to cut business rates for pubs, social clubs, and live music venues across England from April next year.
It’s expected that these new business rate cuts will benefit nearly 32,000 pubs, clubs and live music venues, saving the typical pub an estimated £1,100 in the next financial year.
“For too long, the pubs, social clubs, and live music venues that form the backbone of local high streets have been replaced by boarded up windows and for sale signs,” the Government said in a statement as the cuts were announced today.
Andy Burnham is slashing business rates for pubs, clubs, and live music venues by 20% next year / Credit: John Arano (via Unsplash) | Wikimedia Commons
These changes are set to be fully funded by the Government – including through reviewing reliefs for businesses that do not make a positive contribution to local communities, such as vape shops for example.
The Government says it also plans to crack down on businesses that sell through online marketplaces but do not comply with their tax obligations, which therefore puts them at an unfair advantage over businesses that do play by the rules.
I’m giving thousands of pubs, clubs and music venues a 20% cut in business rates.
I won’t stand by while these cherished local spaces disappear, replaced by boarded-up windows and ‘For Sale’ signs.
They’re the heart of our communities and it’s time we backed them.
“Pubs, clubs and live music venues are at the heart of communities across the UK,” explained Chancellor John Healey. “They help make a place what we love. They bring people together, support local jobs and help keep high streets, and town centres busy, which is why we will back them all the way.
“We are determined to bring hope back, give businesses the support they need and generate growth in every postcode.”
Prime Minister Andy Burnham added: “For too long, Governments have stood by while cherished venues have disappeared from our local high streets. So today I am changing that.
“This Government will back the businesses that people want to see in their communities. I said I would protect pubs and local high streets, and that’s what we will do. What we’re announcing today is just the start as we work to bring back hope across the country.”
Georgina Pellant -
3rd May 2022 
