The interim report of the High Pay Commission ‘More for Less: what has happened to pay at the top and does it matter?’ was published in May 2011.
The report finds that ‘if current trends continue, by 2025 the top 0.1% of earners will take home 10% of the national income and by 2030 we will have gone back to levels of inequality not seen since Victorian England’.
The report argues that ‘excessive rewards are undermining relationships with employees and shareholders; they are encouraging harmful risk taking and creating an economic elite which wields enormous power but appears to have lost touch with how the rest of us live’.
The Commission, chaired by Deborah Hargreaves, is an independent inquiry into high pay and boardroom pay across the public and private sectors in the UK. The Commission was established by Compass with the support of the Joseph Rowntree Charitable Trust.
The Commission runs for one year from November 2010.
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