Unite: Directors’ pay packets are obscene
Len McCluskey, general secretary of the Unite union, responds to the data collected by the Incomes Data Service which reveals directors of FTSE 100 companies are receiving 50% pay raises:
"This damning report shows just how much these pampered directors are removed from the lives of working people struggling to hold onto their jobs and paying soaring energy, food and transport costs.
"This is an astonishing display of boardroom greed. It is exactly why people have been occupying St Paul's to protest against the behaviour of the City elite and a government which is turning a blind eye to these abuses.
"Institutional shareholders need to exercise much greater scrutiny and control of directors’ pay and bonuses.
"The government should be strongly considering giving shareholders greater legal powers to question and curb these excessive remuneration packages.
"Directors of top companies should not be getting these outrageous packages, especially those heading up companies that are failing to perform. It's obscene and shows that the City has learnt nothing during the financial troubles of the last four years.
