The High Pay Commission is an independent inquiry into top pay in the private sector. It will look at the reasons for the gap between high and low pay in the UK in recent years and why this matters
Nick Clegg, Deputy Prime Minister said on the Andrew Marr Show: the “independent High Pay Commission which reported recently… did really extremely good work.”
Alan MacDougal, Director of PIRC told the Guardian: “At last we have a comprehensive look at executive pay that neither gets lost in the technical detail nor falls prey to simply railing against current practice without offering practical solutions. This report will reset the boundaries of the remuneration debate in the 21st century, and deserves to have a greater impact than the landmark Greenbury report of 1995.”
Richard Lambert, Former Director General of the Confederation of British Industry (CBI) stated: “This is a serious contribution to an important debate.”
Graham Leech, Chief Economist and Director of Policy at the IoD discussing the High Pay Commission’s final report stated on the BBC, in relation to the growth in pay at the top that “Clearly it begins to undermine trust in the private sector … we don’t want to undermine confidence in the private sector. I’m not here to defend what probably is the indefensible.”
Justin King, CEO of Sainsburys talking on Question Time stated: “It is inescapable, and the High Pay Commission, this week has simply given voice to this, that the vast majority of the UK population, think that there is something rotten at the top of big corporations in the UK.”
The BBC’s Newsnight covered the findings of the High Pay Commission’s final report. The coverage features extensive interviews with Chair of the High Pay Commission, Deborah Hargreaves, as well as an interview with the Business Secretary, Rt Hon Vince Cable and a panel discussion with Shadow Business Secretary, Chuka Umunna MP, and Conservative MP, Elizabeth Truss.
Listen to Deborah Hargreaves, Chair of the High Pay Commission discuss the final report of the High Pay Commission, Cheques with Balances: Why tackling high pay is in the national interest on the Today Programme. She was joined by Dr Heather McGregor of executive search firm Taylor Bennett who suggested that if people thought bosses’ pay was too high they could “move to cuba”.
Today the High Pay Commission publishes its final report, Cheques with Balances: Why tackling high pay is in the national interest, shows stratospheric pay increases which have seen wealth flow upwards to the top 0.1% away from average workers. It sets out a 12-point plan based on transparency, accountability and fairness to halt spiralling high pay that is creating inequalities last seen in the Victorian era.
High Pay Commission chair, Deborah Hargreaves, said:
“There’s a crisis at the top of British business and it is deeply corrosive to our economy. When pay for senior executives is set behind closed doors, does not reflect company success and is fuelling massive inequality it represents a deep malaise at the very top of our society.
Today the Sunday Telegraph explores the “Big Pay Debate“. Stating that “With the High Pay Commission preparing to recommend ways to overhaul executive pay this week, we look at the rising public anger over excessive remuneration and the surge in pay rebellions by investors.”
In the Guardian today Patrick Wintour discusses the latest political battlefield, the “morality of markets”. He highlights the forthcoming final report from the High Pay Commission to be released on Tuesday 22nd November.
Patrick Wintour states “Next Tuesday the independent High Pay Commission will take the debate on corporate greed a stage further when it publishes the fruits of its year-long inquiry into executive pay… Politicians have wrung their hands about executive pay for years. This report will give them a means of turning sterile rhetoric into practical action.”
Patrick Wintour discusses the forthcoming High Pay Commission final report.
High Pay Commission Blog Archive Worth a read: highpaycommission.co.uk The High Pay Commission is an independent inquiry into top pay in the private sector. It will look at the reasons for the gap between high and low pay in the UK in recent years and why this mattersNovember 18th 2011, 13:24More
Deborah Hargreaves on the Today Prog - discussing the 49% pay rise FTSE 100 CEOs received...
High Pay Commission Blog Archive Worth a listen: highpaycommission.co.uk The High Pay Commission is an independent inquiry into top pay in the private sector. It will look at the reasons for the gap between high and low pay in the UK in recent years and why this mattersOctober 28th 2011, 11:20More
