Fat Cat Cod Stats Won't Help Workers

The High Pay Centre and Chartered Institute of Personnel and Development (CIPD) have declared today to be “Fat Cat Friday”.

Matthew Lesh, Head of Research at the Adam Smith Institute, commented:

“Another year, another set of cod statistics on executive pay. If these activist organisations actually cared about workers — and not just the politics of envy against our best and brightest — they would talk about ways to actually increase worker pay.”

“The only way to increase wages is by boosting productivity through innovation, cutting red tape, and making it easier for people to move for jobs.”

“In a global market for CEOs, British firms must be able to compete for top CEOs who provide immense value to companies. Decisions made by Britain’s makers and doers now have global impacts and their value to firms reflects this.”

“Limits on executive pay would drive top British talent and companies offshore, ultimately leading to fewer jobs and lower pay for workers.”

If you would like further comment, or to arrange an interview with a member of the Institute, please contact Matt Kilcoyne via phone (07584778207, 02072224995) or email (matt@adamsmith.org).