Anger at soaring fatcat pay as 500 net over £1m a year

MORE than 500 company execs are enjoying bumper pay packages worth more than £1million a year.

Their massive paydays compare to the £29,574 earnings of the average fulltime worker, says the union-backed Labour Research organisation.

Fatcats running our biggest companies saw their pay rise by an average 8.6 per cent, compared to between two and 3.3 per cent for most workers.

The GMB union’s Neil Foster said: “These devastating figures are further proof that our broken economy is rigged against the majority.

“It cannot be right that millions of people are going to work and struggling to get by while millionaires at the top and are lining their own pockets.”

Labour Research found only 36 of the 505 top executives were women.

Labour MP Rachel Reeves said: “The only people doing well out of this Government are the super-rich whose salaries continue to soar.”