GOVERNMENT moves to halt runaway growth in executive pay have had little impact, a study has warned.
The High Pay Centre think tank showed no company in the FTSE100 had seen a majority of shareholders oppose pay for chief executives in the last few months of 2013.
There have been a number of shareholder revolts against pay rates for executives since the coalition required companies to publish more information, while ministers have spoken out about the need for restraint.
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But the High Pay Centre found the average pay for chief executives in 67 companies studied was £4.5m last year.
Deborah Hargreaves, the centre's director, said: "These figures show the new regulations are not enough to bring top pay back to a sensible and fair level.
"Over the past 15 years, pay for a FTSE100 chief executive has gone from being 60 times the average UK worker to 160 times, without any justification.
"All workers should share in a company's success.
"Our economy cannot succeed in the long-term if a tiny group at the top pull further and further away from everybody else."
TUC general secretary Frances O'Grady added: "For all the tough talk on curbing fat cat excess, the Government's policies are simply too weak.
"This failure to stop rising inequality could lead to another economic crisis."