Bosses of some of the UK’s biggest companies had their pay increased to 118 times the median wage of a full time UK worker, up from 108 times the average rate a year earlier.
Median pay for chief executives of FTSE 100 share index companies grew to £3.91m in 2022, the highest level since 2007.
The median pay – the midpoint between the lowest and highest pay – increased from £3.38m in 2021.
Pay grew 16% from 2021 levels to 2022, the most recent time period with full information available, for chief executives of the Financial Times Stock Exchange index of the 100 most valuable companies.
For comparison, official figures showed the average worker’s pay, including bonuses, rose 5.7% in the final three months of 2022 from a year earlier.
Data from FTSE 350 companies showed £1.33bn was spent on the pay of 570 executives.
The figures were collated by the High Pay Centre thinktank.
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Information was taken from disclosures of chief executives’ total pay, listed in companies’ 2022 annual reports. For companies who do not report in sterling, the amount was converted into pounds using the exchange rate cited by HMRC close to the company’s year-end.
The thinktank’s research also showed there were eight female FTSE 100 chief executives in 2022, down one from nine in 2021.
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According to the analysis, the highest-paid chief executive was Pascal Soriot, at the helm of AstraZeneca who received £15.32m in 2022.
He was followed by: • Charles Woodburn, of weapons maker BAE Systems, on £10.69m. • Albert Manifold, of building materials firm CRH, on £10.38m. • Bernard Looney, of oil and gas producer BP, on £10.03m. • Brian Cassin, of consumer credit reporting and analytics firm Experian, on £9.94m.
The High Pay Centre called for reforms to corporate pay-setting rules.
Companies should be required to have at least two elected workforce representatives on the remuneration committees that set pay and should give more detail on pay for top earners beyond the executives, the thinktank said.
Detail on low earners, including indirectly employed workers, should also be given, enabling more informed pay negotiations and a clearer debate about pay inequality, the group added.
“How major employers distribute the wealth that their workforce creates has a big impact on people’s living standards,” said the High Pay Centre director, Luke Hildyard.
“We need to give workers more voice on company boards, strengthen trade union rights and enable low and middle-income earners to get a fairer share in relation to those at the top.”
Transport Secretary Louise Haigh has admitted pleading guilty to an offence connected with misleading the police while a parliamentary candidate in 2014, Sky News can reveal.
Sky News understands Ms Haigh appeared at Camberwell Green Magistrates’ Court six months before the 2015 general election, after making a false report to officers that her mobile phone had been stolen.
Ms Haigh said she was “mugged while on a night out” in 2013. She then reported the incident to the police and gave officers a list of items she believed had been taken – including a work mobile phone.
In a statement to Sky News, the transport secretary said she discovered “some time later” that “the mobile in question had not been taken”.
She added: “In the interim, I had been issued with another work phone.”
The transport secretary said: “The original work device being switched on triggered police attention and I was asked to come in for questioning.
“My solicitor advised me not to comment during that interview and I regret following that advice.
“The police referred the matter to the CPS and I appeared before Southwark magistrates.”
Ms Haigh continued: “Under the advice of my solicitor I pleaded guilty – despite the fact this was a genuine mistake from which I did not make any gain.
“The magistrates accepted all of these arguments and gave me the lowest possible outcome (a discharge) available.”
It’s understood her conviction is now classified as ‘spent’.
However, three separate sources claimed she made the false report to benefit personally, with two of the sources alleging she wanted a more modern work handset that was being rolled out to her colleagues at the time.
The now cabinet minister had been working as a public policy manager at Aviva, but two sources said she lost her job at the insurance firm because of the incident.
Her government profile states she left this role in 2015 before becoming the MP for Sheffield Heeley at that year’s general election.
Sky News understands the incident was disclosed in full when Ms Haigh was appointed to the shadow cabinet.
In the statement given to Sky News, the transport secretary said: “I was a young woman and the experience was terrifying.”
Conservative Party Chairman Nigel Huddleston told Sky News the revelations are “extremely concerning”.
He added: “Keir Starmer has serious questions to answer regarding what he knew and when about the person he appointed as transport secretary admitting to having misled the police.”
Before entering politics, the transport secretary was a special constable in the Metropolitan Police – serving between 2009 and 2011 in the South London Borough of Lambeth, close to where she was convicted several years later.
She was appointed shadow policing minister by Jeremy Corbyn in 2017 and frequently drew on her experience in the Met when challenging the Tory government on the rising demands on officers.
As transport secretary, Ms Haigh appoints members of the board that oversees the British Transport Police.
In 2019 she said that Boris Johnson had “deceived the police” and committed a “serious breach of trust” over claims he politicised serving officers during a speech in West Yorkshire.
Sir Keir Starmer promoted the Sheffield MP to shadow Northern Ireland secretary in 2020 before moving her to shadow transport secretary in 2021.
But she was publicly rebuked by Sir Keir who said her opinions were “not the view of the government”.
With connections to former Downing Street chief of staff Sue Gray, there has been speculation her cabinet role could be under threat in a future reshuffle.
Ms Gray’s son, Labour MP Liam Conlon, is Ms Haigh’s parliamentary private secretary and acts as her “eyes and ears” in parliament, while another of her former employees also worked for the former chief of staff before she was sacked after losing a power struggle within Number 10.
As transport secretary, Ms Haigh was one of a handful of cabinet ministers who complained to the Treasury about impending cuts in the budget.
She is considered to be one of the more left-wing members of the cabinet and has vowed to “rip up the roots of Thatcherism” with her plans for rail and bus reform.
In 2015, Ms Haigh was one of a number of Labour MPs to nominate Mr Corbyn for leader – a decision she later said she regretted.
MasterChef host Gregg Wallace has stepped down over allegations he made a series of inappropriate sexual comments on a range of programmes over 17 years.
Broadcaster Kirsty Wark is among 13 people who have made claims, with Wallace being investigated by MasterChef’s production company Banijay UK.
In an interview with the BBC, the Newsnight presenter, who was a celebrity contestant on MasterChef in 2011, claimed Wallace used “sexualised language”.
“There were two occasions in particular where he used sexualised language in front of a number of people and it wasn’t as if it was anyone engaged with this,” Wark said.
“It was completely one-way traffic. I think people were uncomfortable and something that I really didn’t expect to happen.”
Sky News has contacted Wallace’s representative for comment.
‘Fully cooperating’
Banijay UK said the complaints were made to the BBC this week by “individuals in relation to historical allegations of misconduct while working with Gregg Wallace on one of our shows”.
The company said the 60-year-old, who has been a co-presenter and judge of the popular cooking show since 2005, was “committed to fully cooperating throughout the process”.
“Whilst these complainants have not raised the allegations directly with our show producers or parent company Banijay UK, we feel that it is appropriate to conduct an immediate, external review to fully and impartially investigate,” the company said.
“While this review is under way, Gregg Wallace will be stepping away from his role on MasterChef and is committed to fully co-operating throughout the process.
“Banijay UK’s duty of care to staff is always a priority and our expectations regarding behaviour are made clear to both cast and crew on all productions, with multiple ways of raising concerns, including anonymously, clearly promoted on set.
“Whilst these are historical allegations, incidences brought to our attention where these expectations are not met, are thoroughly investigated and addressed appropriately.”
A BBC spokesman said: “We take any issues that are raised with us seriously and we have robust processes in place to deal with them.
“We are always clear that any behaviour which falls below the standards expected by the BBC will not be tolerated.
“Where an individual is contracted directly by an external production company we share any complaints or concerns with that company and we will always support them when addressing them.”
Previous investigation
Last month, Wallace responded to reports that a previous BBC review had found he could continue working at the corporation following reports of an alleged incident in 2018 when he appeared on Impossible Celebrities.
Wallace said those claims had been investigated “promptly” at the time and said he had not said “anything sexual” while appearing on the game show more than half a decade ago.
In an Instagram post following an article in The Sun newspaper, he wrote: “The story that’s hitting the newspapers was investigated promptly when it happened six years ago by the BBC.
“And the outcome of that was that I hadn’t said anything sexual. I’ll need to repeat this again. I didn’t say anything sexual.”
Alongside MasterChef, Wallace presented Inside The Factory for BBC Two from 2015.
Wallace has featured on various BBC shows over the years, including Saturday Kitchen, Eat Well For Less, Supermarket Secrets, Celebrity MasterChef and MasterChef: The Professionals, as well as being a Strictly Come Dancing contestant in 2014.
He was made an MBE for services to food and charity last year.
Recorded episodes of MasterChef: The Professionals featuring Wallace will be transmitted as planned, the PA news agency understands.
The Scottish government has announced that all pensioners in Scotland will receive a winter fuel payment in 2025/26.
The devolved benefit is expected to come into force by next winter and will help the estimated 900,000 people north of the border who were cut off from accessing the winter fuel payment which used to be universal.
Social Justice Secretary Shirley-Anne Somerville announced the news in a statement to the Scottish parliament on Thursday.
It comes after both the UK and Scottish governments earlier this year axed the universal winter fuel payment, except for those in receipt of pension credit or other means-tested benefits.
At Westminster, Chancellor Rachel Reeves claimed the decision was made due to financial woes inherited from the previous Conservative government.
Ms Reeves said the restriction would save the Treasury around £1.4bn this financial year.
The decision led to the Scottish government – which was due to take control over a similar payment through the devolved Social Security Scotland but has since announced a delay – to follow suit.
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The payment is a devolved matter in Scotland and Northern Ireland, however the SNP government said Labour’s approach would cause up to a £160m cut to Scottish funding in 2024-25.
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