Top company boss Sir Martin Sorrell today exposed the staggering wealth gap in Britain by declaring that his £1 million base salary is "very low".  The head of advertising giant WPP stunned MPs as he defended bumper income rises for boardroom chiefs as millions of other workers are seeing their pay frozen or rise very slightly.  He was grilled on BBC radio on his £4.2 million pay package for 2010, up from £2.3 million a year earlier, after a report revealed that FTSE directors had seen their remuneration rise by 49 per cent on average.

Speaking in Perth, Australia, David Cameron said he was "concerned" about the report on huge pay rises for boardroom bosses in Britain in the past year and admitted there had been a "problem" with closed shop remuneration committees.

"Boards have got to think when they are making pay awards, is this the right and responsible thing to do," he said. "Of course you have got to attract the best talent to run the business you are accountable for as a non-executive director, but is what you are doing responsible?  Everyone, whether they are in public life or private enterprise, they have got to be able to justify the decisions they make about pay."

But Conservative MP Jo Johnson said: "Corporate governance on the whole is failing in Britain's publicly listed companies. Executive pay is the litmus test of effective corporate governance and executive pay is clearly out of control."

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