Link to this page: https://secure.socialistparty.org.uk/issue/930/24161
From The Socialist newspaper, 4 January 2017
Bosses' pay goes up by 82% for nothing
Monopoly man with axe dancing on money bags, 1% super-rich austerity inequality, photo torbakhopper (Creative Commons) (Click to enlarge)
Mark Best, Hackney Socialist Party
Chief executives' pay in Britain's top 250 companies increased by an average of 82% between 2003 and 2014.
They're paid on average £1.9 million, up from around £1 million in 2003, according to research by Lancaster University Management School.
What has this rise achieved? The study found "a material disconnect between pay and fundamental value generation." So nothing.
And top bosses at Sky are looking at starting their year off with a nice bonus from Rupert Murdoch's planned take-over by 21st Century Fox. Chief executive Jeremy Darroch and finance chief Andrew Griffith are looking at whopping payouts of £24.5 million and £13.7 million pounds respectively!
While we're squeezed by increased travel and housing prices, often stuck in precarious jobs on poverty pay, those at the top aren't just sitting comfortably, they're getting more comfortable every day.
Blue chip company bosses were paid an average of 47 times more than their employees in 1998. In 2014 that had risen to 130 times!
We need to fight this unfair, unequal system. Fight for a £10 an hour minimum wage for all. Fight for an end to zero-hour contracts, and the profit-driven race to the bottom for workers' wages while executives race to the top.
This means kicking out the fat cats who are creaming money off the backs of workers. We need to take the wealth that's there in society into democratic public ownership, starting with the banks and top 150 corporations.
From this we would be able to run society based on planning what's good for the working class, not the bosses' profits.
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Coronavirus crisis - Finance appeal
The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.
The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.
The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.
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- When the health crisis subsides, we must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.
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In The Socialist 4 January 2017:
What we think
2017: Upheaval and fightback will continue
Socialist Party news and analysis
Nationalise rail now!
Resist Trump: protest on 20 January
Bosses' pay goes up by 82% for nothing
Make Harrods give back stolen tips!
Northern Ireland: 'Cash for ash' scam shows need for non-sectarian, socialist politics
Tories want donors to 'defeat rise of socialism'
NHS drug price hike: nationalise big pharma!
No to 'Ceta' privatisation treaty stitch-up
Them & Us
Unite general secretary election
Unite election - fight the Blairites, vote Len McCluskey
Workplace news and analysis
Post Office workers striking against cuts
Why prison officers rejected pay and pensions deal
Support mounts for Picturehouse strikers
CWU strike against closures and pension cuts
Socialist readers' comments and reviews
Film review: Rogue One
The Socialist Inbox
The Socialist 4 January 2017 |
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