Sir Martin
Sorrell, boss of advertising giant WPP had a pay cut of £22million. This sum
alone would make anyone a rich person and above the rest of the crowd. Sir
Martin is one of the biggest donors of the Tory Party, if not the biggest.
Despite of
the huge pay cut he still earned a massive £48million in 2016.
In the
previous year, his earning was an unbelievable £70.4million.
The big
decrease came from the falling value of his long-term share incentive plan. It
fell from £62,8million to just about £41million.
It is
estimated that Sir Martin Sorrell is worth £231million or more.
His basic
salary is still £1.15million and he remains the highest paid chief executive in
the FTSE100.
This is all
very well because he is the boss of a giant advertising company and has the
right to earn what he is working for.
But if you
look a bit closer the facts emerge that although a powerful company in the
advertising world and therefore very successful for companies these huge fees
will eventually come down to the consumer.
Lets face
it, a man earning £48million is not justified not to forget the rest of his
executives who will not go home with a merely £22,000 or even £50,000 a year.
All these
huge sums of money paid will come down to the consumers who pay for the goods.
At that point of view, it is not justifiable to demand a high price for adverts
to receive a £48million just for one man.
Furthermore,
most of the adverts are forced on consumers whether they want it or not just so
the chief executive and his friends can cash in enormous amount of money.
BBC always
demanded a licence fee because they did not run adverts. ITV did not ask for
licence fees because they financed their programmes by having adverts.
For years
now, the BBC is also having adverts but did not stop the licence fee. It should
have been stop years ago but, of course, it be a benefit for the people and
that will never do, besides BBC is controlled by the Tory Government.
A further
point has to be made, which is not quite honourable, WPP company is registered
in Jersey a tax haven of the Government or closer to the truth, the Tories. Sir
Martin Sorrell uses it to bring down his tax to £200million.
Another
loss to the Revenue Department but never mind Chancellor Philip Hammond will
bring it back by higher tax and Welfare cut in his budgets.
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