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These people don’t know what they’re talking about, do they?

FTSE 100 chief executives are paid £3.4m on average,

OK, there’re 100 of them. £340 million.

There are 30 million (-ish, -ish) workers in the UK with median pay at £33,000.

So, confiscate all that cash from the CEOs and each worker gets £11 a year. A year. 0.6 pence and hour, which I think we’ll all agree is a massive amount.

At which point the High Pay Commission says:

“The UK economy really cannot afford for such a big share of the wealth that is created by all workers to be captured by such a tiny number of people at the top. To address declining living standards for the majority, we need measures to balance the distribution of incomes more evenly.”

Ignorant sodding tossers who simply have no idea of numbers at all.

We can also do this another way. It’s not wealth, it’s incomes. All incomes are, by definition, equal to GDP. Which is £2.2 trillion or -ish. So, CEOs get 0.015% of national income.

“Big share” eh?

13 thoughts on “These people don’t know what they’re talking about, do they?”

  1. “FTSE 100 chief executives are paid £3.4m on average”

    Which is round about the average pay of a Premier League footballer aged over 23 (the average player under 23 has to make do with a modest £2.13m).

    However, this is not a cause of angst because it is accepted (even if grudgingly) that that’s the market rate if you want to get the very best players. And also CEOs are vague mystical figures and no-one can see them in action so they are easy to have a pop at.

    And no-one is suggesting that a player earning 10 times what (say) a division 2 player gets is 10 times a better player but the marginal differences make all the difference to the success of the team.

    I wonder if it occurs to any of the whining left that the same principle applies to CEOs. That marginal differences in ability can make big differences to the performance of the company they work for and that if you want the benefit of those marginal differences you will have to compete with other employers who also want the benefit of those marginal differences.

  2. Good point.
    While of course the number of people who live in London on benefits is quite large, if they were told to house share how many homes would be avaliable for people who pay the taxes for their benefits?

  3. Ouch Anon!!! You’re reminding me of those wicked fiends in Texas and Florida who are dumping the ‘immigrants’ on places that say they should stay, like Martha’s Vineyard.

  4. I’d be more interested how many people there are on the revolving door of quango chair, university dean, governmental body, charity CEO, board director type jobs that the likes of Paula Vennels can fail from one to another, and how much the likes of them get paid.

  5. But, Andrew C, football is the sport of the working classes, so exempt from criticism. A bit like how fishing escapes scrutiny by the cruel sports mob, but fox hunting is the work of the devil.

  6. “Ignorant sodding tossers who simply have no idea of numbers at all.”

    On such subject, on yesterday’s news commenting about Sunak’s pledge to “halve inflation”, the voxpop welcomed by saying “so next year’s fuel bill will be halved”.

    And the news presenter didn’t even raise an (audio) eyebrow at such mind-gargling inability to comprehend basic sums.

  7. @Boganboy
    Most people who are young and work in London house share – why not the same for those who don’t work?
    After all they could live somewhere else and not work.

  8. @Bloke in Powys they do want to go after fishing, it’s the fact they are still obsessing over fox hunting that is stopping them

  9. What the nation can definitely not afford is millions of public sector parasites earning billions in total for doing the square root of fuck all.

  10. Why are stocks double GDP?

    “All incomes are, by definition, equal to GDP.” What about stock market income? Should I rate the troll -100/10?

  11. What stock market income? Dividends? incomes to brokers who trade stocks? Interest on margin loans? All part of GDP. For they are all incomes to people.

    Changes in the value of stocks? That’s capital, not incomes…..

  12. “public sector parasites earning billions in total for doing the square root of fuck all.”

    If they’re doing fuck all, they’re not earning anything. They may be being *PAID* billions, but they’re not *EARNING* billions.

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