Big firms hit record profit of £154billion
THE nation’s biggest businesses have been urged to reward staff after raking in a record £154billion.
A report today shows their pre-tax profits for last year were up 158% on the previous 12 months.
It comes after many staff have endured years of below inflation wage rises, or pay freezes.
TUC chief Frances O’Grady said: “With profits at a record high, they have no excuse for not paying everyone a fair wage.”
The Share Centre’s report showed the banking and financial sector alone made £41billion last year, up from £21billion in 2016.
The joint £153.8billion was up from £59.8billion in 2016. TUC is holding a rally for fairer pay in Central London on Saturday.