Sunday, 19 June 2011

145 times

Ed Milliband (Leader of the Labour Party in the UK) made an interesting speech the other day.
In it he noted a number of points:

In the last ten years the pay of someone at the top of a company has gone from 69 times the average wage to 145 times.

Every time a chief executive gives himself a massive pay rise - more than he deserves or his company can bear it undermines trust at every level of society.

But then he rather spoils it.

He says Labour was seen "however unfairly" as the Party of those ripping off society. Even as he acknowledges that Labour "Was intensely relaxed about what happened at the top of society".

How "unfair" to blame the "intensely relaxed" Labour Government for the massive pay rises!
But Ed has a solution - He rules out the Government setting maximum pay ratios - perish the thought.

The solution Ed offers is - well it's sort of make a speech and the top paid people will see they error of their ways and change. Job done. So as my only contribution to "sending out the right message" I just like to say that noone deserves to be paid 145 times anyone else.

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