Directors show way on inflation-busting pay

As we sit here, basking in the warm glow of social partnership and low single-digit pay rises, it rankles just a little to read of double-digit pay rises for directors in British companies.

A survey by the magazine Labour Research showed the remuneration of directors in 2,000 public companies rose by an average of 10.7 per cent, well ahead of pay rises for their employees and the fifth year of double-digit growth.

Three directors earned packages of more than £5 million sterling last year, with 79 more topping the £1 million mark.

Come to think of it, such reports may lie at the root of Irish public company reluctance - with one or two notable exceptions - to break down the pay of their board members. After all, they would hardly be able to continue berating their staff for inflationary pay rises . . .