The Equality Trust has responded to today’s announcement of Government proposals on corporate governance. Dr. Wanda Wyporska, Executive Director of The Equality Trust, said:
“These proposals are a step in the right direction, but we need to see far more. Too many businesses are paying absurd amounts to mediocre bosses, whilst ratcheting down the pay of workers. That is why we face such ridiculous and damaging levels of inequality in this country.
“Naming and shaming companies that face shareholder revolts on pay is a positive move, as is the proposal for the compulsory publication of pay ratios, a requirement we’ve long campaigned for. However, it’s disheartening to see watered down proposals on worker representation in the boardroom. We need to see a genuine, substantial presence for workers at this level, so that their voices are heard, and so companies can benefit from the experience and knowledge of their staff.
“If the Government is serious about stamping out the worst excesses of greed and incompetence found in some UK businesses, it needs to go further.”
The Equality Trust is a registered charity that works to improve the quality of life in the UK by reducing economic inequality. UK income inequality is among the highest in the developed world and evidence shows that this results in poorer mental and physical health, higher violent crime, poorer educational outcomes and lower levels of trust. Inequality affects us all. For further comments or to arrange an interview, contact info@equalitytrust.org.uk