One in four of the lowest 10% of all UK earners work in sectors where activity has ground to a halt amid tight restrictions on social and business life across Britain, compared with less than one in 20 of the highest paid.
Young people are particularly likely to work in mothballed sectors, given the higher numbers of young adults in hospitality or retail, where their employers have been forced to close. As the generation to experience the toughest squeeze on pay following the 2008 financial crisis, the report warned that almost a quarter of millennials – born between 1981 and 2000 – currently work in shuttered sectors, compared with 16% of working baby boomers and other older adults born before them.
Although the government is providing billions of pounds of emergency financial support to companies and individuals, millions are still expected to fall through the safety net.
The £42bn profits made in the last five years by the 18 companies could have covered the expected cost to the government of the scheme, the High Pay Centre’s analysis suggests. During that same period, those companies paid shareholders £26bn in dividends, although dividend payments.
https://www.theguardian.com/business/2020/apr/27/ftse-100-firms-using-furlough-scheme-pay-ceos-average-of-36m