PwC’s latest report, called Time to Listen, is subtitled, “We need to find a way to respond to public concern about executive pay, or matters will be taken out of our hands.” It’s quite a warning, and, coming as it does on the heels of new Tory Prime Minister Theresa May’s remarks that she is going to take action, it’s a warning that should probably be heeded. In its introduction, the report says: “we believe a seachange is required in how executive pay is approached by companies and shareholders. Pay regulation is often counterproductive and we’re not convinced that more of it is the answer.”
The report draws its conclusions on the need to address income inequality from both its own research and the British Social Attitudes 32 survey, published in 2015, which showed strong agreement, even among those voting conservative, to some stark statements:
