A really welcome announcement today of the establishment of a High Pay Commission set up by Compass with the support of the Joseph Rowntree Charitable Trust. It is chaired by Deborah Hargreaves, a highly regarded former business editor of the Financial Times, and now launched it will run independently from Compass. Deborah is joined by a panel of five Commissioners from business, academia and the trade unions.
The recent IDS survey showing 55% pay increases for FTSE 100 Directors has ignited the public debate around issues of high pay.
New polling to mark the launch shows that 85% of people think top executives are overpaid. Only 9% of people realise just how high executive pay is and how out of touch it has become with workers pay in recent years. More than 200 times the average worker.
The Commission has a website and is inviting evidence.