Pay gap in Britain between executives and workers ‘obscene’, says union

Unions have described companies who pay their chief executives huge multiples of their workers average salary as obscene, and called on ministers and shareholders to act to end the “runaway train” of inequality in corporate Britain. A report by the High Pay Centre thinktank on Tuesday revealed that Ocado, the online supermarket, had the biggest pay gap between those at the top and those on the shop floor. Its chief executive, Tim Steiner, was paid £58.7m last year – which works out at 2,605 times the £22,500 paid to the online grocery delivery company’s staff on average. It means Steiner was paid about 10 times as much as the average Ocado worker’s annual salary for just one day’s work. Read more.