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Bosses get big bucks as workers’ pay stagnates

PAYOUTS to shareholders in major companies increased over six times faster than wages between 2014 and 2018, research suggests.

The TUC and the High Pay Centre said their analysis indicated Britain’s largest listed companies generated £551 billion in profit over the period and returned £442bn to shareholders.

FTSE 100 shareholders received £123bn in dividends and share buybacks in 2018, compared with £79bn in 2014, said the report.

This amounts to a 56 per cent nominal increase in returns to shareholders, while nominal median wages for British workers increased by 8.8 per cent, the study indicated.

The TUC said that if pay had kept pace with shareholder returns, the average worker would now be over £9,500 better off.

TUC general secretary Frances O’Grady said: “Working people should get a fair share of the wealth they create, but instead, the playing field is tilted in favour of wealthy shareholders and executives while families struggle to make ends meet.

“It’s time to change the rules. At this election, politicians need to set out how they will fix Britain and start putting working people first.”

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