The scaremongering about the effects of the
government`s "national living wage" by the CBI beggars belief (CBI: Osborne`s
living wage is threat to jobs,03/11/15). The outgoing director-general, John
Cridland, claims to "have sought to rebuild the reputation of business", but the
reality is that the CBI has done nothing to curb either the excessive tax
avoidance by its company members, or the greed of the businesses` CEOs. Even
though its profits had risen 14% in a half-year, Whitbread recently claimed
increasing wages would lead to price rises for its customers.(Whitbread living
wage warning raises fear of price rises and job cuts,08/09/15)? As Nils Pratley
informed us then, the pay increase "works out at just 0.95% of Whitbread group
operating costs", though no similar percentage was offered for the CEO`s pay
package, which "soared by 85% to almost £6.4m" last year (Whitbread chief`s pay
package soars by 85% to almost £6.4m,09/05/14). The new CEO of Barclays may well
claim to want to "transform" the banking culture like his predecessor did, but
what sort of example is set to his employees when the boss pockets over £10m a
year, including a "role-based allowance" to side-step the EU rules on
bonuses(New boss at Barclays promises "trust and integrity" as overhaul
continues,29/10/15)?
Funny how the CBI prefers to describe Britain`s
education sytem as "a drag-anchor on the economy", when our current pay
structures fail to benefit the economy at all, because wealth is being
stock-piled by the rich, whilst the low-paid`s spare spending capacity is almost
zero.
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