Wage disparity growth linked to return of pre-crisis pay rises, IFS says

Big rises for bankers could explain why top earners’ pay growing faster, thinktank says

Big pay rises for people already earning at least £1m a year could be the result of a return to pre-financial crisis levels of reward for bankers and top company bosses, according to the head the UK’s leading economic thinktank.

New data collected by HMRC and released alongside the chancellor’s spring statement showed pay for the highest earners rose nearly 6% between April and September last year, compared with 3.7% for the rest of the workforce. The Institute of Fiscal Studies (IFS) said the pay disparity would exacerbate inequality.

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Source: The Guardian
Wage disparity growth linked to return of pre-crisis pay rises, IFS says