Britain's top executives at companies facing industrial action are earning up to 86 times the average pay of their staff, according to a new analysis. The revelation comes as millions of workers struggle with the cost of living crisis, with inflation hitting a 40-year high of 9.1%.
Network Rail chief executive Andrew Haines was paid £593,000 last year, around 18 times the average wage of RMT members. Meanwhile, BT Group chief executive Philip Jansen's pay was 86 times that of the average BT worker and 97 times lower-paid staff. The firm is facing its first national strike in 35 years over pay.
Royal Mail boss Simon Thompson took home £753,000 in pay and perks last year, 23 times more than the average postie, as 115,000 workers are balloted on strike action. British Airways chief executive Sean Doyle earned 38 times more than cabin crew, who are voting on industrial action.
Andrew Speke of the High Pay Centre think-tank said: 'People across the board can see the cost of living go up while those at the top are still doing very well indeed.' The pay gap between top bosses and workers has ballooned as the country emerged from Covid, with executives at 69 big firms earning 63 times more than staff.
Despite this, Prime Minister Boris Johnson has insisted that pay rises for workers would raise inflation further. His spokesman said a bigger raise would 'chase inflation with wages, push inflation up further, making the hike worthless.' TUC General Secretary Frances O'Grady countered: 'Inflation is not being driven by nurses and care workers wanting enough pay to buy food.'
