THE news that Leighton Holdings’ CEO Wal King is getting an extra $23 million
on top of the $36 million he picked up in bonuses this year will no doubt cause
some eyebrows to raise.

In a rare bit of serendipity, it comes at a time when workers on federal
awards have been told they will not get their annual pay increase next June
because the Government’s Fair Pay Commission will not make a decision until the
end of the year.

Mr King’s bonuses and benefits alone could pay the weekly wage of more than
120,000 workers on the minimum rate of $484 a week.

An analysis of the top 300 companies on the ASX has found CEO salaries rose
by 44 per cent this year. Those on the minimum wage got a 3.6 per cent pay
increase. Can anybody seriously argue this is fair?