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The government has been accused of hypocrisy for plans to reduce wage limits for bank bosses

Boris JohnsonThe government was accused of hypocrisy for planning to reduce wage control of city bosses while seeking wage restraints in the public sector.

The 10 Chiefs of Staff Steve Berkley are not said to have written to the Prime Minister Rishi Sunak Formulate “deregulation measures to reduce the burden on the entire business” and attract the following companies Brexit..

This includes removing some restrictions on salaries for directors and non-executive directors. Me newspaper.

It caused anger from Labor Union leaders – key workers were told to “tighten the belt” and accept only small salary increases to curb inflation.

In a letter to the Prime Minister, Berkeley wrote:

The Cabinet Office Minister was also reported to have asked Secretary of Commerce Kwasi Kwaten to explicitly mention the need to change the salary restraints of his boss and outline further measures to reduce the burden on the business. ing.

The Department for Business, Energy and Industry Strategy (BEIS) has confirmed that it is investigating “whether there are unnecessary restrictions on the payment of non-executive directors’ shares and whether they can secure a full investment.”

Confirming the plan, No. 10 said the government is investigating payment methods for part-time directors, including removing “unnecessary restrictions on the payment of shares of part-time directors.”

“We have no plans to change the executive compensation cap,” said an official spokesman for the Prime Minister. “I think the issue under investigation is not the compensation of CEOs and directors, but the compensation of part-time directors.”

However, Labor has accused the government of using a “two-set rule.” One is for high-income people in the city and the other is for workers elsewhere.

Baroness Smith, the leader of the party’s lord, said: Doesn’t it seem somewhat hypocritical to tell the city that those restrictions, those curbs that were being enforced, should be removed? “

Jonathan Reynolds, Labor’s shadow business secretary, said, “The lurking from crisis to crisis is the government looking down on the couch in search of random ideas instead of giving companies real certainty. It’s a feature. “

TUC General Secretary Francis O’Grady also questioned the double standard. “Major workers were told to fasten their belts, city executives told them to help themselves,” she tweeted. “The UK is worth better.”

As with the biggest remarks prior to Tuesday’s cabinet meeting Train strike For 30 years, Johnson said public sector salary increases need to be “proportional and balanced.”

“Sustainable high levels of inflation will have a much greater impact on people’s payment packets in the long run, destroying savings and expanding the difficulties we face longer,” he said. I added.

A BEIS spokesperson said:

“Similarly, we are also investigating whether there are any unnecessary restrictions on the payment of shares by non-executive directors, which will allow us to fully invest in the success of the company run by non-executive directors. Hopefully, the directors will do well. “

The government has been accused of hypocrisy for plans to reduce wage limits for bank bosses

Source link The government has been accused of hypocrisy for plans to reduce wage limits for bank bosses

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