Greens press for 10:1 pay ratio law as gap between bosses and staff continues to widen

23 May 2022

The Green Party has repeated its call for the pay ratio between chief executives and their workers to be limited to a ratio of 10:1. The demand comes as new evidence reveals pay ratios in the first months of 2022 averaged 63:1, almost doubling the ratio in 2021 [1].

Commenting, Green Party deputy leader, Amelia Womack, said:

“Such huge disparities between bosses and their staff are unacceptable at any time, but when many of these workers are struggling to put food on the table and pay sky-high energy bills this sort of imbalance is a complete failure by government to protect households. We need laws to prevent these gross injustices. 

“There can be no justification for astronomical pay for a tiny elite while the majority of people are struggling to get by. That’s why the Green Party is repeating a call for a 10:1 pay ratio, mandated by law, to ensure that the highest paid individuals in an organisation receive no more than ten times the amount of the lowest paid.

“Such a policy would be likely to tackle the crisis of low wages: the lowest paid in organisations are the very people most impacted by the cost of living crisis. It would also help create a more equal society, which research has consistently demonstrated is good for health and wellbeing [2]”.

Notes

[1] Pay gap between bosses and staff expected to widen - BBC News

[2] Impacts of inequality- The Equality Trust

 






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