Scottish Greens propose pay ratio to cap fat cat pay packets

Chief executives could not earn more than ten times average pay

Monday, 25th November 2019, 3:50 pm
Updated Monday, 25th November 2019, 3:50 pm
Lorna Slater says it's wrong that the average chief executive is paid 117 times as much as the average worker

FAT cats would have their salaries capped at ten times the pay of their average employee under proposals in the Scottish Greens’ manifesto.

The party wants laws to limit pay inequality, including the introduction of a pay ratio. That would mean a maximum 10 to one pay ratio for chief executives in the public sector and a commitment to phase it in for private sector firms too.

Scottish Greens co-leader Lorna Slater said: “The average FTSE 100 CEO earns 117 times more than the average UK worker. It’s not right that bosses earn fat-cat salaries when their employees are finding it harder to get by.

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“Not only is the growth of wealth inequality a gross injustice, it is also devastating for our planet. People can’t think about their carbon footprint when they are starving, but let’s be clear, it isn’t the poor who are speeding up global warming. A celebrity millionaire has a carbon footprint of 10,000 times the average person. As for billionaires with private jets, they have the power to distort our democracy.

“A more equal society is not only fairer, it helps us reduce emissions.”

Meanwhile, co-leader Patrick Harvie said it would be a “mistake” for an independence referendum to be delayed until after a Brexit transition period.

He said Scots should have a say on the country’s future while the UK’s future relationship with the EU is being debated.