With news that FTSE 100 directors have seen their earnings increase by almost 50 per cent, I done a little digging on the lives behind the faces.
Michael Davis...Xstrata... £18,426,105 million
Michael Davis is number one on the list. Mr Davis is a big financial backer of the Conservative party he gave £150,000 to Conservative party central office over the last 21 months according to Electoral Commission records.
Over the past few months Mr. Davis has also
given money to the Education Secretary, Michael Gove who raised £30,000 from
donors – one of whom provided money for Dr Liam Fox’s unofficial adviser, Adam
Werritty.
Mr Davis, the chief executive of the mining company Xstrata, gave Mr Gove £7,500 to support him “in the capacity as an MP”. Mr Davis has declined to comment.
Gus O'Donnell's report into the Liam Fox affair identified two previously unknown funders of Pargav, the company which paid more than £140,000 towards Werritty's first class flights and five star hotels.
One of these was Mick "the miner" Davis, the boss of the FTSE 100-registered mining company Xstrata and a leading figure in the UK Jewish community.
In June, Davis was among a delegation that included Zabludowicz, the chairman of Bicom, which met the foreign secretary William Hague to discuss the impact of the Arab spring on Israel. Last year Davis was at the centre of a fierce controversy within the UK Jewish community after he made highly critical remarks about the Israeli government.
Bart Becht ...Reckitt Benckiser...CEO...£17,879,000
Number two on the
current list endorsed the Conservatives pledge to reverse a planned rise in national
insurance. Cameron and Osborne deliberately misled the public in the run up to
the 2010 general election, they let people believe that they would halt the
planned national insurance rise, but in fact they did this for employers only,
national insurance contributions were raised for employees - once again the
Tories helping their corporate friends out while making workers’ pay extra taxes.
Bart Becht the man
behind the Cillit Bang kitchen cleaner has shattered British records for
executive pay after taking home more than £90m in
cash and shares in one year. In addition to crystallising the long-term
schemes, Becht received a salary of £987,000, a cash bonus of £3.5m and had
£296,000 as a contribution to his pension fund. Becht was granted a further
900,000 options and share-related awards in 2009, which will pay out in future
years.
He has been head of
the company since it was created through a merger in 1999 with Norwich-based
Reckitt & Coleman, he once let it slip that he thought some of the Cillit
Bang products were very stupid. He doesn’t seem to mind fooling the public with
his "stupid products" and taking home millions of pounds, while other
people who struggle to buy his overpriced products struggle to live under the
extreme austerity measures of the Conservative government.
Michael Spencer...ICAP...£13, 419, 619 million
Mr Spencer is number three on the list, and
who is one of David Cameron’s closest allies is. He
resigned as Tory party Treasurer after admitting to his inner circle that having
two jobs means he is spread too thin and that "mistakes have been
made" in the way ICAP has developed. He resigned after over-seeing the
Conservative fund-raising push, through the election. When he became treasurer
in 2006, the party had an£8m deficit. Today the Tory party is the richest party
in political history and has in excess of £55 MILLION in its coffers.
Michael Spencer is/was the Chief Exec and
founder of Experian. (More about Experian
below)
Mr Spencer alone has donated £2.6m to the Tories since
January 2006, making him one of the party's most important donors.
Sir Terry Leahy ...Tesco...£12, 038, 303
million
In 2009 Sir Terry collected £ 5.2million in
pay, bonuses and perks, while he is understood to have shares in Tesco worth
more than £10million.
When Sir Terry Leahy retired as head of Tesco it wasn’t to spend more time with his family it was probably "to spend more time with his private investments!
When Sir Terry Leahy retired as head of Tesco it wasn’t to spend more time with his family it was probably "to spend more time with his private investments!
Lord Boswell of Aynho - Conservative Peer.
Has or had shares in Tesco’s and Barclays
Forget the glowing Leahy eulogies that the
right wing press has force feeding us about Leahy which can only be described
as a cheap “fatty “diet abundant in sycophantic goo with a side order of gush.
I'd say Sir Terry has done more damage to the fabric of British life than any
other businessman in modern times, he’s helped destroy towns and the
countryside and growers, dairy farmers and general farmers don’t like him very
much either. He is well in with David Cameron too. In fact Cameron made good
use of Leahy in his 2010 general election campaign. Cameron's new planning laws
should pass the mustard with people like Leahy with their endless scandals - on land grabbing, price-fixing, the breaching of planning law, the shameless misleading of millions of customers into
grabbing illusory bargains – and Tesco is at the illusionary bargains again, reducing
things across their stores by a penny or two but vastly raising the prices of
other items to pay for it, it is just a huge scam and Cameron allows this to
happen. The core of “Leahyism”, and its supposed "brilliance", was
the relentless forcing down of prices, but their producers and farmers do not
get a share of those eye watering profits, they get paid a pittance for their
produce.
Tom Albanese... Rio Tinto... £11,623,162
Chief executive, BS
(Mineral Economics), MS (Mining Engineering).
Dominic Grieve, Conservative Attorney General had or has
registered share holdings in Rio Tinto
Mr
Grieve held or holds at least 240,000 of shares in mining firms Anglo American
and Rio Tinto, bank Standard Chartered and oil giant Shell - all of which work
in Zimbabwe.
In
2008 he defended his position, saying all the shares had been properly declared.
Robert Mugabe was sworn in as president in 2008 after a meaningless election 'run-off' in which his only opponent had pulled out after weeks of violence and intimidation.
Robert Mugabe said of David Cameron: "he's a man I could do business with".
Sir Martin Sorrell ...WPP Group...£8,949,985
Mr
Sorrell was the face that took to the air to "justify" the 49% pay
increases of CEOs and sits on David Cameron's business council and apparently
it is only a matter of time before Sir Martin is ennobled as Lord Sorrell (he
could be Lord Sorrell of taking your business out of the UK to avoid paying UK
tax)
Previously Sir
Martin Sorrell, the chief executive of WPP, has said it is right that the BBC
takes a substantial cut in its funding, he also said that he believed it was right that the BBC was being forced
to take a budget cut of 16% in real terms over the next four years from April
2011, following the corporation's six-year licence fee settlement with the government.
Sorrell
half-jokingly went on to say that "maybe Rupert and James Murdoch were right, maybe [the BBC] is
too broad", citing the corporation's reduced licence fee funding as part
of a broader global trend. "In a way what is happening here with the BBC
is that its subsidy is being reduced. It is going in that direction. It is a sign of the times, of the straits we are in. Everyone
has to do their part."! Mr Sorrell could always "do his bit" and forego his
49% pay rise as a sign of solidarity with those who have very little and who
are being forced by the Tories to pay for the greed of the few in this country!
Hypocrite!
In
2008 Martin Sorrell moved WPP Group to the republic of Ireland for tax purposes;
he maintains it was a difficult decision made in the interests of shareholders.
(How many UK jobs went with it?)
Before Osborne's budget, there had been
speculation that the Treasury was aiming to get a high-profile company to
announce its return to Britain. Business publisher United Business Media, which left three years ago, was first to oblige in the hours
after Wednesday's budget, saying that it was "actively reconsidering"
its tax base.
And after the budget in what appeared be
to a carefully stage-managed announcement, Sorrell used an early morning
appearance on the BBC's Today programme to declare his support for the changes in the budget that will cut the tax paid by UK-based
companies on overseas earnings by three quarters. Barely two hours later,
Osborne was also on the programme and welcomed WPP's potential return.
Sorrell said: "I wouldn't say it was
orchestrated or choreographed." But he admitted there had been discussions
between the government and WPP for many months, and particularly since the
Davos summit.
So
is WPP returning to the UK? Well if they have any plans it doesn't look like it
is in the immediate future. This is just more deliberately misleading guff from
the Tories, designed to make them look like they are doing better than they
actually are.
Don Robert
(Experian) £8,601,984
This
is so hypocritical, Don Robert and Experian is the company selected by David
Cameron and the “Tory” government to crack down on
benefits fraud! What a pity that Cameron does not crack down on obscene pay and
bonuses of Experian’s CEO, who make money out of other peoples misery! What a
pity Cameron does not use Experian to crack down on those tax cheats that avoid
paying their UK taxes and shift all their money into off-shore accounts.
Benefit cheats are far outweighed by the type of tax dodging that goes on.
Benefit fraud is estimated to cost around £1.5 billion, tax cheats like
Vodafone is let off their £6 billion tax bill by Tory chancellor George Osborne
and it dwarfs benefit fraud. Both is wrong, but benefit cheats in general tend
to do it as a means to an end to survive and feed and clothe their families,
while the likes of all these tax dodgers do it because they are greedy and want
more and more money than they or their families can ever spend in their
lifetimes.
Cameron
has effectively put a price on the heads of people on benefits and Experian
will act like a bounty hunter and will get a payment for
each “fraudster” its sophisticated systems uncover. Cameron grossly
overestimated benefit fraud and now companies like Experian will be making an
estimated £50 million at least out of the state.
If Experian makes mistakes it could deprive
rightful claimants of much-needed benefits, not mentioning the distress that
can be caused. Experian holds records on 45m Number of UK adults!
Conservative Welfare Minister, Chris Grayling
said:
"Why
should the government not use the same tools available to independent
organisations?"
"This
is data that is publicly available, that is publicly on sale that is available
to set out spending patterns – what loans you have taken out, what your overall
patterns of spending in your life are.
"If
there is a huge mismatch between the way you are living your life and the
amount of money you are supposed to be receiving from the state in benefits,
surely it is right and proper that we should be saying, 'How is that
happening?' Where it is legitimate and legal to use data, I see no reason why
government shouldn't do so."
Well Grayling would say that wouldn't he?
Graylin was or is a shareholder of Experian.
Grayling also defended the payment of "bounties" to credit rating
agencies that help to identify benefit cheats, while complete ignoring that
this country has more of a problem with tax dodging cheats, many of which
reside in the Conservative
Nobody approves of benefit cheats. But
mining private data on a routine basis on the off-chance of catching people out
is a disproportionate invasion of privacy.
There's a presumption of innocence in this
country, and trawling everyone's credit data and treating us all as suspects
seriously brings that into question.
George Osborne the Tory chancellor hired a
team of accountants to avoid paying inheritance tax. People like Osborne let
off companies like Vodafone, Phil Hammond Defense Secretary and Andrew Mitchell
Overseas Aid Secretary, Welfare Minister, Chris grayling, Attorney General,
Dominic Grieve, all have avoided paying UK tax in one way or another, or have
all been shareholders in suspect companies yet these are the people sanctioning
“bounty hunters” not only to wheedle out benefit cheats, but to spy on all of us!
Furthermore, by taking powers of legal
investigation and enforcement which ought to sit with the state, and granting
them to private organisations is a dangerous thing to do, especially when the
same harsh lines are not being employed with the big tax avoiders in this
country! This is the Tories genre after "privatisation" and use the
private sector which ends up taking money out of the state and putting it in
the bank accounts of people like those mentioned above and company
shareholders. Some of these ministers are even benefiting from the laws and
policies they are issuing.
Cameron and Osborne want to stop well off
people claiming things like disability benefits, child benefits etc. yet
Cameron has claimed disability benefits for his late son Ivan, he claims child
benefits and so does George Osborne, they are both multi-millionaires and have
been in politics for some time, receiving and excellent salary and expense
claims, why do they need to claim and why are they pointing to others while
doing the exact same thing? To put benefit fraud into perspective Cameron
says£1.5bn is fraudulently claimed, the budget for social security/Benefits
is£158bn, benefit fraud against tax avoidance is a drop in the ocean. Not a
peep about the £15bn per annum of tax avoidance by the rich, or about the £5bn
loophole for the Non Doms who fund the Tories. This country’s problems can be
addressed if tax avoidance was tackled, but it isn’t, not properly I wonder
why?
Dominic Grieve the Conservative Attorney
General also has or had registered
share holdings in Experian also has or had Registrable shareholdings:
Rio Tinto Shell Diageo GlaxoSmithKline Reckitt Benckiser Schroders Home Retail Group
Anglo American Platinum Corp Astrazeneca Ord. Standard Chartered LVMH BHP
Billiton Experian
Dominic
Grieve also received financial support from the “Midlands Industrial Council”
read all about the MIC
on this blog here
Grieve
also has this listed with the Remunerated employment, office, profession etc:
Barrister. Ex-member of Lloyds'
reinsured into Equitas and a member of NACDE, a Names Action Group.
Michael
Spencer (registered number 3 on the 49% CEO List) is/was the Chief Executive
and founder of Experian and is also a major Tory party donor!
Bob
Diamond....Barclays....CEO....Awarded Himself £27 million paydeal
Shortly before the highly
controversial chief executive of Barclays went on the John Humphrys show on BBC
Radio 4 to lecture us all on credit and the need for austerity measures, he had
awarded himself a 327 million pay deal.
Jonathan Djanogly, Parliamentary Under-Secretary
of State for Justice who is piloting controversial plans to cut legal aid
and curb pay-outs – a move that could benefit the
insurance industry to the tune
of £1bn a year – has investments worth at least £250,000 in companies with
insurance arms.
Who Is it really
that is "all in it together"?
Prime Minister David Cameron called for more
boardroom responsibility. Deputy PM Nick Clegg called it a "slap in the
face" for millions who were struggling.
During the run-up to the general election
Cameron also pledged that he would ensure that the pay between boardroom and
shop floor was narrowed in fact the gap between
boardroom and shop floor pay has got wider and wider and while workers’ pay is
not keeping up with inflation and some workers pay is frozen and others have
taken an actual pay cut to help out "struggling bosses", no we see
the gap between workers’ pay and their bosses has just increased by 49%
and all that Cameron and Clegg can do is offer patronising mealy mouthed words.
These greedy bosses sit on each other’s
‘remuneration committees and wave through each other’s’ offensive pay rises. An
average rise of 49 per cent includes vast rewards for failure while employees,
shareholders and customers suffer. It is the greedy bosses and the Conservative
party enabled by the Liberal Democrats t who are in it the trough together,
while we are left floundering and struggling with this craziness.
Many FTSE bosses then have the
brass neck to whine about paying 50 per cent tax. It’s high time they showed
leadership and restraint.’ Perhaps HMRC should also
conduct enquires as to where these people keep their money.
Labour said the pay
increases were part of a "something for nothing" culture. While he
said that "People are not against those at the top getting higher rewards
if those rewards are earned, if more wealth is created, if more jobs are created,"
Ed Miliband, also said this was not the case here as the stock market had not
risen to match the salaries.
In fact it was to this very
thing that Ed Miliband spoke of in his conference speech, for which he was much
ridiculed by David Cameron and assorted Tories and their cohorts in the right
wing press "red Ed" they started screaming again, while denouncing
what he had said, now a few weeks later the truth has emerged and we discover
that Ed Miliband is correct once again.
Ed Miliband the leader of the labour party is the only
mainstream politician to be trying to offer a change in the way this country
does business,, we the public must make up our minds whether we are going to
fall for more of Cameron's lies and deliberate misleading’s, or we are going to
try and trust someone who is basically an decent honest man who has the brains
and the integrity to try and get us out of this mess , one thing is for
certain, the Tories do not have either!