UK's boardrooms have failed to heed Government warnings on pay restraint and awarded themselves even bigger double-digit rises, says a report today.
Average annual increases for FTSE 100 chief executives were almost four times the rise in average national earnings, according to the annual report on directors' pay by Incomes Data Services, the independent research body.
The figures have provoked an angry response from investors and trade unions, who questioned whether the rises were deserved.
The report found that the top 100 chief executives saw total-cash remuneration rise 18.3% for the year to the end of June.
This suggests that the pace of boardroom pay growth has picked up, despite mounting Government concern.