GMB Union has responded to the High Pay Centre’s annual FTSE 100 CEO pay review [1], which shows average packages of bosses of Britain’s biggest companies surge 16 per cent to £3.91 million.

Gary Smith, GMB General Secretary, said:

“Throughout 2022, working people across the UK were desperately struggling with the cost of living crisis.

“Meanwhile fat cat CEO pay sky rocketed to an average of almost £4million – more than 100 times that of the average worker.

“While workers in sectors across the board were forced onto picket lines to make ends meet, these top brass were trousering fortunes.

“If Ministers genuinely think high wages are going to cause spiralling inflation, they probably need to think about curbing pay at the top of the tree, rather than everyone else.”