Overpaid CEOs holding down wages & using companies as cash machine for shareholders
Former head of High Pay Commission talks to The Real Agenda
Listen free to “Access to Excess, what about the workers”, the latest episode from The Real Agenda, now available on iTunes, Soundcloud, Spotify & Stitcher or search: The Real Agenda with Tom Burgess
London 14 November 2018: “Overpaid CEOs holding down wages & using companies as cash machine for shareholders’ according to Deborah Hargreaves, former chair of the High Pay Commission, and author of a new book: “Are chief executives overpaid”.
Speaking to The Real Agenda, the podcast for political change, Deborah added: “As most CEO pay is directly related to share price, it is in their interests to cut costs and hold down wages. CEOs need to have a wider brief and a broader societal focus if capitalism is to work for all”
Senior executive pay packages have reached new heights rising 11% last year, while wages for lower earners have remained static, still below 2008 levels.
“A CEO can’t say we are all in this together when they are taking 150 times as much in pay than the average worker. Bonuses should be shared by the entire workforce not just the bosses. The current system just contributes for worsening inequality and needs to change, this could also mean higher income tax rates ”
Deborah Hargreaves is founder of the High Pay Centre, having had a long journalistic career with the Financial Times and with the Guardian as business editor.
To hear more opinion and fact on this subject as well as what we can do to fix it, listen free to “Access to Excess, what about the workers”, the latest episode from The Real Agenda, now available on iTunes, Soundcloud, Spotify & Stitcher
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