The pay divide between the bosses of Britain’s largest companies and those a little below them is widening, according to figures compiled by Independent Remuneration Solutions, the consultancy, and Manifest, a proxy voting agency.

The median rise in chief executive remuneration for businesses with more than £1bn in turnover was 16 per cent last year compared with 6 per cent for those whose enterprises turned over less than £300m, the survey of 903 companies found.