’Obscene’ pay rise for tycoon

Press, 21 August 1978, Page 9

’Obscene’ pay rise for tycoon

] NZPA London] The British Government is to look into the £150,900 ($270,000) pay rise received by the film and TV tycoon, ; Lord Grade. An Employment DepartI ment spokesman said that it I would ask Lord Grade’s] i company, Associated Tele- ] I vision, for details of the] rise, which was disclosed in j i its annual report. j The Government’s move] ■comes after a demand from; ; a Labour Member of Parlia-1 i manet. William Molloy, that; jthe “obscene” pay rise! ] should be stopped. The Gov-; ]eminent is trying at present! | to get British unions to ■] agree to pay-rise limits of] five per cent. ] Mr Molloy has written to; ‘the Employment Secretary] I (Mr Albert Booth) asking ] j him to intervene “as a matter: lof the utmost urgency.” The department’s spokesman, however, made it clear, ] that, at present, all it was ] ! seeking was information [about the increase. I The increase in salarj' is ] being paid in the United! ; States . for his “greatly in- ; creased personal workload,” I “The Times” has reported. ‘ Although he is paid in the ! United States the money is (taxed at American rates be- ] fore being transferred to : Britain, where it is then ! taxed up to United Kingdom I rates, the highest level of I which for earned income is ■B3 per cent. Lord Grade has declined

; estimate what his take-home pay would be. Lord Grade has said that ; his British salary of £59,500 ($111,000) has “not altered ‘at all.” He said this week that he had no intention of leaving Britain — no matter how much tax he had to pay. Lord Grade said: “I love to live here and wouldn’t move if they gave me £lOO million a week. I don’t mind being taxed at 83.9 per cent.” He said that Americans : were incredulous when they | heard he had been earning ' onlv £59,000 a year. “In America you get paid ] for what your abilities are. llt made them think that British productions were not ; so good.” ] Lord Grade, who is 71, ] who grew up in London’s I East End and started as a : costing clerk in a clothing I firm, works virtually nonstop for his money. But he ; finds it “a lot of fun” and ‘“relaxing.” Earlier Lord Grade’s pay ] rise had been defended by ] the general secretary of the ] film and TV technicians ; union, Actat (Mr Alan Sapper). Mr Sapper said: For ar international entrepreneur. Lord Grade is not very well paid. In the States the head ; of a big international picture ; corporation would get £500.000 ($920,000) a year. “It is a dream wprld. They work and produce by theii efforts millions of pounds ol I return.”