The gap between the pay of company executives and other workers is set to widen this year after falling during the height of the Covid pandemic, research by a think tank suggests.
"However, as the Covid-19 emergency hopefully reduces, it would be a shame if the spirit of solidarity it generated fades away as well," he added. Prices were already rising as economies opened following pandemic restrictions, but war in Ukraine has led to further increases and wages are failing to keep pace.up from 7% in March and is forecast to rise further by the end of the year.not ask for big pay rises - to try and stop inflation spiralling out of control.
Speaking to the BBC's Today programme, Mr Hildyard said: "For many households the cost of living's rising, their economic situation is getting a lot worse not better, but that doesn't seem to be stopping the big companies that are making big profits from paying vast amounts to their chief executives and people at the top while not necessarily awarding pay rises to lower earning workers who are struggling with that cost of living.
"Going back to past practice, where pay ratios increase year-on-year, is one area where we do not want to see a return to normal following the pandemic. However, this increasingly seems unlikely as evidence from a number of companies shows pay at the top rebounding."
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