A new survey has found that some eye-poppingly huge pay gaps exist between the average UK worker and the top executives at a number of the country's biggest companies.
Research shows that bosses of the UK's top 350 FTSE companies are being paid, on average, at least 53 times more a year than their mid-level colleagues
What's more, some UK bosses are earning as much as 100 times more than their average employee, reports The Manc.
Image: Mutual Interest Media
A poll for the High Pay Centre shared exclusively with The Guardian found that huge salary gaps have become commonplace in large UK businesses and that the majority of Brits did not approve.
It comes as many up and down the country are facing the choice between heating and eating, as energy bills skyrocket and the value of UK pension and out-of-work benefits see the biggest fall in 50 years.
According to the new survey, 63% of workers believe that CEOs shouldn't be earning more than 10 times that of their staff, and only 3% of people deem it acceptable for them to be paid over 50 times the company's average wage.
In reality, research published by the same think tank in 2020 shows many top-level bosses are already being paid 50 times more - with some earning as much as 100 times their company's median salary.
On average, these bosses are paid at least 53 times more.
Research also found that on average an FTSE 100 chief executive makes more money in four days than an average UK worker will over the course of a year.
Many respondents felt that policy measures aimed at distributing wealth more evenly could help to raise living standards for people across the UK.
Luke Hildyard, the director of the High Pay Centre, told The Guardian that the research revealed: “the extent to which the lives of those at the top and those of everybody else have become so far removed from each other”.
He added: “That’s probably not a healthy development.
“Britain’s biggest employers dedicate a significant amount of their budget to the pay of a small number of top earners.
"Redirecting some of this money to low- and middle-income workers would be a good way to raise living standards and address the cost of living crisis but it will require policymakers and business leaders to be a bit more open-minded about whether those at the top really need to be paid so much.”
Frances O’Grady, the general secretary of the TUC, added: “The whole workforce deserves to share in the success of a firm, not just those in the boardroom. But over the years executive pay has raced ahead of other workers – and now it’s at stratospheric levels.
“It’s time to set a maximum ratio between the top earner in each firm and other workers. There should be workers on remuneration committees, to ground decisions in the interests of the whole workforce.
"And incentive schemes should be open to all workers on the same terms, instead of just giving big bonuses to executives.”
Feature image -Wikimedia Commons
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Leeds City Council confirms plans to repair historic Lower Kirkgate with work set to begin this month
Leeds City Council has confirmed that work to stabilise buildings on Lower Kirkgate is set to begin later this month, with repairs expected to take around 20 weeks to complete.
Back in 2024, Lower Kirkgate in Leeds city centre was closed following the partial collapse of a building, leaving one of the city's oldest streets inaccessible.
Since then, the street has remained closed while plans were developed to address the structural issues affecting the buildings.
Now, almost two years after the initial incident, the council has confirmed that a contractor has been appointed to carry out the work.
The buildings are privately owned, but Leeds City Council says it will step in to carry out the stabilisation work to prevent further deterioration and protect the historic properties.
Image: The Hoot Leeds
A spokesperson for Leeds City Council said: “We are pleased that, following months of careful planning and preparation, we are now in a position to begin stabilising these privately owned buildings.
“A contract has been awarded for the work, which is scheduled to get under way later this month and is expected to take around 20 weeks to complete.
“It should be stressed that the situation on Lower Kirkgate is not of the council's making, with the owners of the buildings allowing their condition to deteriorate over many years and then failing to take the necessary steps to address the resultant structural issues.
“By stepping in and carrying out this work itself, the council will be able to arrest the deterioration of important heritage assets on one of Leeds’s oldest streets. As always, we thank the local community for their continued patience and support.”
Further details about the work, including when the street may be able to reopen, have not yet been confirmed.
Canadian rock legends Nickelback announce Leeds gig on huge world arena tour
Clementine Hall
Nickelback announce world arena tour in support of their new album - and they're coming to Leeds.
The Canadian rockers will be bringing their biggest hits as well brand-new music to arenas around the world.
Formed in Hanna, Alberta, the band made up of Chad Kroeger, Ryan Peake, Mike Kroeger and Daniel Adair, have sold nearly 65 million albums worldwide.
Best known for rock anthems including Rockstar, Photograph and How You Remind Me, Nickelback have built up a huge global following over the course of their career.
The upcoming tour will see the band celebrate their new album, Everything Under The Sun, and they'll be kicking off the UK leg of the tour right here in Leeds at the First Direct Bank Arena.
The tour follows their record-setting Get Rollin' world tour, and will once again take them to venues across North America, Europe, and Australia.
The group have sold nearly 65 million albums worldwide, and achieved billions of streams across digital platforms.
Their new album will be released at the end of the month on Friday 30 October, so you'll have plenty of time to get to know their new tracks before they come to Leeds on Saturday 22 May 2027.
They'll be supported on the tour by Don Broco, an English four-piece featuring Rob Damiani, Simon Delaney, Tom Doyle and Matt Donnelly. Known for their genre-defying sound and dynamic approach to modern rock.
Nickelback 2027 UK Tour Dates in full
22 May - Leeds First Direct Bank Arena
24 May - London The O2
28 May - Birmingham Utility Arena
1 June - Glasgow Ovo Hydro
2 June - Manchester Co-op Live
Tickets for Nickelback at the Leeds First Direct Arena go on sale next Friday 16 October and you can get yours HERE.
Georgina Pellant -
4th May 2022 
