New laws come into force in the UK tomorrow that will force many companies to reveal the depth of the salary gap between the top executives and the shop floor.

From 1 January, FTSE-listed companies with more than 250 workers will be required to calculate and publicize the pay ratio between bosses and average employees.  In 2017 alone, average annual executive pay jumped 11 percent to US$4.9 Million.  That's around 50 to 60 times the average UK worker say some advocates.

The goal is to monitor companies and perhaps even shame them into explaining soaring executive salaries while the politics of austerity is often cited to justify stagnant worker pay.  But given the brazen antics of UK companies, it's apparent that many simply lack a sense of shame over the worst excesses.

This law was written in reaction to several high profile cases of eye-watering pay packages given to executives.  In one example, the UK home builder Persimmon paid a $95 Million to its CEO Jeff Fairburn.  His way of handling the bad publicity was to simply walk away froma reporter who asked him about it.  Growing outrage, especially among shareholders, wound up costing Mr. Fairburn his job.

But other shareholder revolts haven't been as successful.  The Royal Mail paid its chief executive Rico Back a $7.3 Million signing bonus, despite 70 percent of shareholders opposing it.  And shareholders were likewise unable to stop the $2.9 Million golden parachute to departing chief executive Gavin Patterson.