Shock horror, no CBI press release today calling for pay restraint in the public sector. No lectures on the need for private sector disciplines etc....
Whilst we are used to bare faced hypocrisy from some business leaders, even they might think today is not a good day to lecture others. A report by Incomes Data Services says bonus levels in FTSE 100 boardrooms have increased by an average of 22.5% over the past six months to just shy of £559,000. Salaries have risen by 7% from last year.
It’s also not just the big companies who are cashing in. According to the survey, which looked at 237 directors in 180 listed companies, bosses of FTSE 250 companies have seen their total incomes (salary and bonuses) rise by 8%, and Small Cap directors’ pay went up by 5.3%.
All a far cry from real terms pay cuts in the public sector.
A period of embarrased silence from the CBI would now be appropriate. But I suspect that is expecting too much!
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