Treasury chief calls for board members to show pay restraint

Yvette Cooper, Treasury chief secretary has called on boardrooms to show discipline in their inflationary pay increases

Written by Rachael Singh, Accountancy Age

Yvette Cooper, Treasury chief secretary, has called on boardroom members across the country to show restraint in their pay packet

Cooper has made a plea for pay discipline as the government braces itself for the estimated inflationary figures, released tomorrow, which show it rising above 3% The Financial Times reported.

Top executives should not try to offset rising food and fuel prices by subsidising their pay with 'irresponsible' rises.

'There has to be leadership from the top down,' said Cooper who has been overseeing the public sector pay deals.

Trade unions who have complained in the past that their workers are being asked to show restraint which is not matched by senior management, are expected to welcome this statement.

Further reading:

Treasury chief issues plea for pay restraint

The FD's FD: what credit crisis?

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