UK 
United States
With the turbulence of the coronavirus pandemic shedding light on the inequalities within the corporate world, executive pay has been a hotly debated issue over the past 12 months.
As workers have struggled with limited pay, furlough and redundancies throughout the pandemic, some workplace bodies and members of the UK Government have questioned the ethics of leaders such as Chipotle CEO Brian Niccol taking home a total of $14million (£10.8million) in 2020 – the equivalent of 2,898 times the median employee salary at the company.
It was this subject that former business secretary Vince Cable spoke out about this week, noting that UK Government policies aimed at tackling the vast pay gap between chief executives and their staff do not address ‘the root cause of the problem’ and are not effective at rectifying it.
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Concerns are shared by Deborah Hargreaves, Director of the High Pay Centre, which has called on ministers and shareholders to act to end the “runaway train” of inequality in corporate Britain, said the UK should “not waste this crisis” when “major reforms to the economic system” were needed.
