We Need A Pay Rise Now
Research by the GMB union has shown that if the minimum wage had kept up with those of chief executives a worker over 25 on a 40 hour week would earn £26,000 a year compared to the £14,664 they currently earn. Since the introduction of the National Minimum Wage in 1998, executive pay levels have increased by 354% according to the High Pay Centre.
This comes at a time when despite soaring food and utilities costs, research by the Resolution Foundation suggests that wages are likely to stagnate next year in relation to inflation, with real pay remaining £15 below it’s pre-2008 crash peak.
Iain Dalton, Yorkshire Youth Fight for Jobs organiser said:
“This is yet another example of the huge disparity in the pay of ordinary workers and those at the top of society. It is a chilling reminder of the way free-market capitalism distributes wealth to the top of society, whilst leaving the rest of us struggling to get by.”
“Youth Fight for Jobs calls for a £10 minimum wage for all, with no lower rates of pay for younger workers. This research shows that actually this is a very modest demand. The trade union movement, alongside Corbyn’s Labour, must immediately redouble its efforts to make a £10 an hour minimum wage a reality.”
We Need A Pay Rise Now, 31st December 2017, 17:14 PM