Group urges reform of British executives’ pay

TOP British executives are receiving “stratospheric” pay rises despite workplace “failure,” an independent report into boardroom salaries said while calling for an overhaul of remuneration.

Following a year-long study, the High Pay Commission said salaries of some top executives in Britain had soared by more than 4,000% over the past 30 years.

By contrast, the average wage in Britain currently stands at €29,933, up about 300% since 1980, it added.