'Scandalous' CEO pay reaches 122 times average workers'
CEO pay soaring to record levels makes it vital that we properly tax the super-rich and introduce salary caps and pay ratios to reduce ‘grotesque’ levels of inequality, say the Scottish Greens.
The comments come as new figures from the High Pay Centre show that top executives’ pay in the UK has hit another record high – reaching 122 times of an average worker.
The party’s equalities spokesperson, Maggie Chapman, said:
“These figures are absolutely scandalous. They reflect a rigged system that means super yachts and vast wealth for a small number of people while millions are desperately trying to make ends meet.
“These grotesque levels of inequality are not inevitable. They are the result of political decisions that have allowed the super-rich to keep getting richer.
“There is absolutely no reason why anybody should be paid 122 times more than someone else. They certainly don’t need it. And they don’t deserve it either.
“It’s not right that a small number of people are raking in more than they can count while their employees are often on poverty wages. Covid taught us that the workers we rely on every day are not those on eye-watering salaries, but those who support us in our communities where we are.
“A wealth tax is now a necessity, to make sure that those who have enriched themselves the most pay their fair share. But we also need to be capping top salaries and introducing pay ratios.
“I’ve repeatedly called for pay ratios in the public sector - something all employers should sign up to. Companies and organisations should be made to link the salaries of their bosses to average workers to reduce exploitation and inequality and build fairer and better work places.”