A report was issued by the High Pay Centre and Income Data Service which shows that Fatcat’s bulging pay packets is twice if nor three times of profits risen since 2000. This news is not a surprise to the general public.
Their findings were based FTSE 350 companies for the years between 2000 and 2013. It also revealed that bonuses rose even higher. According to High Pay Centre they increased by 314 per cent.
All these past years the companies and the Government tried to convince the public that high bonuses for the executives would encourage big success. Now it shows, in the same report that profits only raised by 95 per cent for the 350 top companies and their stock market value by 63 per cent. Yet, when a firm collapse because of the executives pay and bonuses superseded the profits the Fatcats pack up and walk into another top job while the workers are unemployed
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High Pay Centre director Deborah Hargreaves said: “This is further evidence that pay at the top has become a self-enriching racket for those who are lucky enough to be in the right place at the right time.”
During the same time the number of low-paid workers has risen from four million in 1990 to seven million in 2011. Women are even in a lower pay bracket than men. It even worsens with age.
The low-pay figures were compiled by the human resources body, the CIPD, with John Lewis Partnership.
Peter Cheese, chief executive of CIPD, said: “Over most of the last six years, we have seen a significant fall in real wages, with evidence showing that the UK has high proportion of workers employed in low-wage roles compared with our international competitors. This research shines a light on these issues and has important implications for policy makers and employers.”
A further research by the Daily Mirror revealed that the average worker is eight pence a month better off in comparison to last year. The small percentage of wage rise was eaten up by rising cost of living.
The question remains who is really behind the whole scene -- it is nobody but the Government. Since the Victorians there was never a time where there was such a wide gap created while the top are bucketing money and the general public are starving. Yes, literally starving