Figures show that since tory scumbag David Cameron became PM, most workers have seen their salary fall
by 8.4% in real terms while fatcats have enjoyed a 26% pay rise
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The pay gap between rich and poor has expanded into a yawning chasm.
Not only are fatcats earning far more but millions of workers are actually worse off.
No wonder the PM said this week it’s time Britain got a pay rise.
Figures show that during the four years of David Cameron’s premiership top bosses’ pay has grown £700,000.
For most people over the same period inflation has eroded wages. They are £2,500 a year poorer in real terms.
This amounts to an 8.4% fall in salary, while fatcats earn 26% more.
One the biggest winners in the TUC report is Stuart Gulliver, bank chief exec of HSBC which is at the centre of a huge tax avoidance row.
But the pay inequality is also geographical, as our map of average wages show.
London becomes the biggest area, where workers earn an average of £831 a week, and the smallest is Wales where that figure falls to £528.
The worst paid workers in England are in Yorkshire and the Humber with a weekly average of £541.
Next lowest are in the North East (£545), followed by the South West (£549), the East Midlands (£552) North West (£552), according to the Office of National Statistics survey of hours and earnings.
In the West Midlands the average rises to £564, with the East (£585), Scotland (£591) and the South
The TUC found that average workers earn £27,195 a year but fatcats are on 123 times that amount.
Pay and bonuses of chief executives at the FTSE 100’s top firms has soared by £696,236 (26.3%) to £3.3million.
TUC leader Frances O’Grady squarely blames the Government, which cut the top rate of tax, for the widening pay gap since 2010.
Ms O’Grady, who today writes for the Sunday People, warned: “If the Tories get back in, things will only
The TUC figures, based on wage and inflation data between 2010 and 2014, will add to public anger over excessive City pay.
They reveal average wages for ambulance paramedics are down by 12.4%, primary schoolteachers by 13.4% and bus drivers 11.3%.
At the other end of the scale, the FTSE’s highest earning chief exec, WPP ad agency’s Martin Sorrell, is on £29.8million a year, according to the High Pay Centre.
He’s followed by holiday boss Peter Long, of TUI Travel, who pocketed £13.3million, ITV chief Adam Crozier (£8.3million) and Stuart Gulliver (£8million).
The figures have been released as part of the TUC’s Fair Pay Fortnight, which starts on Monday and focuses on low pay and falling living standards.
In comments slammed by critics as a pre-election stunt, Mr Cameron last week told company bosses that they should give their staff a pay rise in the coming months.
He said plunging oil prices and the strong pound meant it was time for companies to “pass on the good economic news to their workers”.
But the Tory PM said there would be no extra cash for millions of public sector workers whose pay has been held below inflation.
Deborah Hargreaves, of the independent High Pay Centre, which monitors executive pay, said: “We have calculated that a FTSE 100 boss makes more money in two days than someone on average wages takes home in the entire year.”
She said: “That means it would take someone on average wages 160 years to earn as much as a top boss gets in just a year.
“We shouldn’t forget that everyone in a company contributes to the success of that company and not just the person at the top.
“And yet, many working people still rely on government tax credits or benefits to get by.”
Activities during Fair Pay Fortnight, part of TUC demands for a higher minimum wage and improved pay settlements in the public and private sector, include wage summits and public meetings to raise awareness about wage inequality.
Other chief executives named by the High Pay Centre include Prudential boss Tidjane Thiam, who got £8.6million, and BP’s Bob Dudley, who was handed a £7.6million pay package.
At the same time the average pay of a supermarket checkout worker dropped by 7.7% – around £1,163 a year – while a lorry driver’s income slumped 8.1% – or £2,300.
Supermarket worker Su Patel, 53, has used all her savings to pay bills.
She has not had a holiday in years or a pay rise since 2007.
She earns £12,000 a year and has to walk to work as she cannot afford to take the bus.
A spokesman for WPP boss Sir Martin Sorrell said: “Over 90 per cent of what is in the £29.8million is related to the company’s performance over five years.”
He said it included long-term incentives and other awards. His basic salary last year was £1.15m.
Other companies named by the High Pay Centre declined to discuss their bosses’ pay awards or failed to respond to requests to comment.
Ms O’Grady added the living standards of workers have taken a hammering while boardroom pay has soared.
She said: “Since David Cameron became Prime Minister, the average wage is worth £2,500 less a year – the worst fall in living standards since Queen Victoria.
“But it’s been a different story for those at top. While millions of hard-working families have been forced to make do with less, City executives have become ever more feather-nested.”
The top 10 fatcats
Martin Sorrell, WPP, £29.8m
Peter Long, TUI Travel, £13.3m
Ian Gorham Hargreaves, Lansdown, £10.6m
Don Robert, Experian, £10.1m
Tidjane Thiam, Prudential, £8.6m
Michael Dobson, Schroders, 8.4m
Adam Crozier, ITV, £8.3m
Stuart Gulliver, HSBC, £8m
Bob Dudley, BP, £8m
Angela Ahrendts, Ex-Burberry, £8m
David Cameron really does have some brass neck.
Last week the Prime Minister was telling business that Britain needs a pay rise.
But on his watch the average worker has lost out by £2,500 a year – the worst fall in living standards since Victorian times. And if the Tories get back it will only get worse. They plan to slash spending on public services to 1930s’ levels, comparatively.
Real wages for nurses, dinner ladies and other public sector workers would be cut every year. And bad bosses will have free rein as strikes become nearly impossible.
Mr Cameron claims he wants ordinary people to have a “fair share” of the cake. But that beggars belief when greedy corporations and tax dodgers can grab what they like.
He seems to spend more time rubbing shoulders with the wealthy at fundraisers, where prizes like pheasant shoots are auctioned off for thousands, than listening to working people and their unions.
The past five years have been great for City fatcats. Top bosses’ pay has skyrocketed while millions of hard-working families are worse off. It’s time for change.
We need a government that delivers decent jobs and living standards. It’s the least working people deserve.
After all, they create the wealth in the first place.