LONDON: Britain’s biggest companies will from 2020 be legally required to publish the gap between the salary of their chief executive and what they pay their average UK worker, under proposed new government rules.
Business Minister Greg Clark said the government would set out new laws in Parliament today which meant that UK-listed companies with more than 250 employees would have to reveal their pay gap and justify their CEO’s salary.“We understand the anger of workers and shareholders when bosses’ pay is out of step with company performance,” Clark said in a statement yesterday.
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