Bruges Group Chairman Barry Legg appeared on GB News' The Briefing, hosted by Gloria de Piero, to discuss the cost of living crisis and the pay of FTSE 100 Chief Executives, joined by former Labour MP Natascha Engel. The discussion can be found here.
Reacting that the average pay of FTSE 100 Chief Executives has jumped by 39% to £3.4 Million, host Gloria de Piero as Mr Legg if it was time to discuss a maximum pay, to which he disagreed, saying that he disagreed with prices and incomes policies, "we've tried prices and incomes policies in the past, and they've been absolutely disastrous to the economy".
He also compared CEOs' salaries in the UK to that of CEOs in the UK, "if you compare them to the United States…they're actually a lot less. We're talking in the United States, of hundreds of millions. It's all about creating value - value for the shareholders, value for the consumers."
"That's a tremendous job to achieve", he concluded.
Former Labour MP Natascha Engel argued that the comparisons between the dire circumstances of those in poverty and the large increases in salaries were "very difficult to talk about", saying it was "that end of the pay scale that was the problem".
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