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This Labour government can curb excessive pay

August 17, 2009 9:47 pm

Author:

Joe Cox

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The acid test of any Labour government is whether it leaves society more equal than when it came to govern it. One of this Labour government’s finest achievements is the minimum wage – but this does not end the vast dispersion of wages above the minimum. If we are going to tackle inequality, we have to address the top as well as the bottom.

The unjust rewards of a few hundred “masters of the universe” have exacerbated the risks we were all exposed to many times over. A High Pay Commission is needed to deliver a fairer, more stable and sustainable economy for the future.

The facts are stark: an employee working a 40 hour week, earning the minimum wage would have to work for around 226 years to receive the same remuneration as a FTSE 100 CEO does in just one year.

So Compass has brought 100 leading progressive figures from across the centre-left, civil society and from all corners of the UK together to call on the government to establish a High Pay Commission to curb excessive pay.

Listen to our General Secretary, Gavin Hayes speaking about the campaign on the Today programme.

The statement, co-ordinated by Compass, has support from Brendan Barber (General Secretary, TUC), Jon Cruddas (Labour MP for Dagenham) and Vince Cable (Lib Dem Shadow Chancellor).

Read the full statement and list of signatories and become a signatory of our campaign.

Any Labour PPCs, CLP post-holders and MPs who wish to add their support should send me an email at joe@compassonline.org.uk.

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