Shareholder spring puts brakes on directors' pay rises

Pay for the directors of Britain's largest companies is rising at a slower rate this year – but still outstripping the growth in average salaries of the rest of the workforce, according a new report.

In a sign that the "shareholder spring" may finally be feeding through to directors' pay packets, Deloitte's latest remuneration report showed median salaries for FTSE 100 chief executives rose 2.5 per cent to £856,000 in the year to July, down from 3 per cent the previous year. Average pay for the UK overall is just 1.5 per cent up.