HIGHEST PAID DIRECTOR GETS 900 TIMES MORE THAN HIS AVERAGE EMPLOYEE

Britain's highest paid company director receives 900 times more than his average employee, according to figures released yesterday by the TUC.

Peter Wood, of the Royal Bank of Scotland, earns pounds 17,402,000 a year while the company average is pounds 19,870. Other examples included the pounds 1,812,000 earned by the top director at the National Westminster bank, more than 63 times the average.

The TUC says its report comes at a time when the wages of the lowest paid have been cut and "hire and fire" policies have led to increased unemployment, fear and insecurity.