Friday, 28 October 2011

Top directors' earnings rose by almost half last year

Just what more demonstrated amount of prove dose anyone need; that inequality in Britain is rife, widespread and rampant, than just one look at this morning’s news which is telling us that DIRECTORS in the country’s top companies have seen their pay rise by almost 50 per cent in the past year – sparking and quite rightly so condemnation and denunciation that they are failing to show restraint at a time when Britain could be heading for a double-dip recession – this is out of control greed comrades!

Average earnings among directors in FTSE 100 companies rose to just under £2.7 million according to research by Incomes Data Services (IDS) released today.

The figures come as a senior Bank of England policymaker warned reports from the retail sector suggested the economy had already begun to contract.

The soaring cost of childcare is forcing low-income families to turn down work or consider leaving their jobs, according to new research.

A report from Save the Children and The Daycare Trust has found that all parents, regardless of income, say they can’t afford not to work, but struggle to pay for childcare and that almost a quarter have got into debt because of childcare costs.

Some 80% of parents in severe poverty and currently in paid employment said they were in a similar position to as if they were not working after childcare costs were accounted for. Nearly two-thirds of parents living in severe poverty said they were struggling to pay for childcare compared to 37% of those on higher incomes.

British parents spend almost a third of their incomes on childcare – more than anywhere else in the world. The costs of childcare are now equal to what 41% of families send on their secured loan on their home or rent.

And let us not forget that these very same top directors have used tough business conditions to impose real wage cuts, which have hit people’s living standards and the wider economy, but have shown no such restraint with their own pay!”

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