These are the very fat cats who have benefited most from the growing gap in wages and inequality in our society. A Chief Executive in a FTSE 100 company now earns on average over 130 times their average employee. Fat cats like Prudential CEO who was paid £11.8 million in 2014, up from a mere £8.7 million in 2013. In 2010, he struggled by on just £5.3 million, so it's not surprising that he thinks things have got better under the Tories.
In contrast, average wages have fallen by £1600 a year since 2010. Half of all jobs created have been in low paid sectors with one in five paid less than the living wage. More than 250,000 workers aren't even getting the legal minimum wage, thanks to the lack of enforcement by the Tories.
The GMB has identified bosses, among the 103 that signed the letter to the Daily Telegraph asking voters to support the Tory Party, from companies with links to tax dodging, blacklisting, zero hours contracts, pubcos, potential job losses and collapse of Southern Cross care homes as well as known Tory donors. So we can see why they think another Tory government would be a good thing.
As Paul Kenny says: "This list of shame shows that voters are faced with a stark choice - a party governing in the interest of corporate bosses with zero hours contracts and for tax breaks for the wealthy elite or a party seeking to provide rights and protection for working people."
- Labour will raise the National Minimum Wage to more than £8 before 2020.
- We will ban exploitative zero-hours contracts – so that if you work regular hours, you get a regular contract.
- We will make it illegal to use agency workers to undercut wages of permanent employees.
- We will guarantee an apprenticeship for all school-leavers who get the grades.
- We will double paternity leave to four weeks and increase the level of pay so that families can afford to take up their entitlement.
This manifesto sets out how Labour will ensure that those who do a hard day’s work are rewarded for doing so, as part of a plan to build an economy that creates the secure and better paid jobs we need to raise living standards for working families.
A concept unrecognisable to the pampered Tory fat cats who signed today's letter.