Analysts at the TUC found that one group of 11 individuals held 40 non- executive directorships at Britain's top 50 companies. Such directors were appointed by "personal invitation" and attended an average 10 meetings a year for which they were paid pounds 31,000 - half as much again as the average worker receives for a year's work. At pounds 3,100 a meeting they were clearly involved in "lucrative back scratching", the TUC contended.Reuse content
THE CHANCELLOR of the Exchequer Gordon Brown came under fire yesterday from the TUC for urging pay restraint at a time when company directors were awarding themselves rises of 18 per cent compared with 4.5 per cent for the whole workforce. Calls for wage restraint needed to be aimed at a "closed shop" of directors who voted each other "huge" pay increases, and not at other employees, a study by the TUC argued.