Help low-paid workers or face curbs to bosses' pay, fund managers tell UK firms

[demmiblue]

Investment managers join call for companies to pay real living wage across entire supply chains

Many of Britain’s largest employers must do more to increase pay for workers struggling with the cost of living crisis or face votes against pay increases for executives, investment managers have warned.

Peter Hugh Smith, the chief executive of CCLA, an investment manager for the pensions of charities and church organisations, said many employers were failing “to do the right thing” and meet the “basic standard” of paying workers a living wage.

“The cost of living crisis is a long way from over,” said Hugh Smith. “There is movement in places, but not nearly enough.”

UK annual consumer prices index inflation remained above 10% in March, after peaking at 11.1% in October. Within that, food prices rose by 19.1% in the year to March, putting the most pressure on lower-paid workers, for whom food represents a greater share of total spending.

https://www.theguardian.com/society/2023/apr/30/help-low-paid-workers-or-face-curbs-to-executive-pay-fund-managers-tell-uk-firms-living-wage

[anciano]

1. Very commendable indeed.

I can only hope that the "powers that be" on our side of the pond will have such an awakening of fairness as well. Just saying.....