Ministers must make the economy fair, says TUC

The High Pay Centre’s ‘High Pay Day’ research, published today (Wednesday), is evidence that the government must rebalance the economy after Covid-19 to make it fair, says the TUC.  

High Pay Day is the day in 2021 on which the typical FTSE 100 chief executive has already earned the same as the average wage for a whole year. 

The research finds that top bosses earn around 120 times the annual pay of the average worker. 

TUC General Secretary Frances O’Grady said: “This tells you everything you need to know about how unfair our economy is. 

“Our army of minimum wage workers – carers, shop assistants and delivery drivers – have kept the country going through the pandemic. Not these CEO’s at the top raking in far more than their share. 

“We must make the economy fair. If the government is serious about levelling up Britain, it needs to start by levelling up pay and conditions for those we most rely on, and stop the threat to freeze key workers’ pay. 

“Ministers must bring forward the long-awaited employment bill to end exploitative working practices like zero hours contracts, and boost rights and pay.“