Web links for 22nd November 2011
The High Pay Commission’s final report says average wages in the UK today are a “modest” £25,900, which is three times their 1980 level of £6,474. During the same period, the pay of some top executives rose by more than 4,000%. Wealth is ‘flowing’ towards the top 0.1% – on current trends, they will take 14% of GDP by 2035. The report argues that this inequality is bad for trust within firms, harms productivity and has harmful social consequences.