Executive pay capped at percentage of median salary

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Executive pay capped at percentage of median salary

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This petition is looking to canvas public support for applying Lord Patten's idea of capping executive pay at a percentage of the median salary in a company across the private sector. The idea being that executives will be forced to give their workers pay-increases each time they want to reward themselves. Executives should only be increasing their pay packets if their profits are up; if their profits are up, they should be able to afford to give staff pay rises also. They should not boost profits and enrich themselves by suppressing workers' salaries.

The government would be required to enact new legislation that caps executive pay in the private sector at a percentage of the median salary in the company. To prevent executives boosting the median salary by culling the lower ranks, this legislation should be twinned with legislation that gives financial incentives to hire domestic staff (eg. tax-breaks for hiring British workers, similar to Obama's Jobs bill).

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