Jeremy Corbyn proposes

Jeremy Corbyn proposes "maximum earnings limit"

The Leader of the Labour Party, Jeremy Corbyn, has suggested that there should be a cap on maximum earnings.

He told BBC Radio 4’s Today programme: “I would like there to be some kind of high earnings cap, quite honestly.

“I can’t put a figure on it and I don’t want to at the moment. The point I’m trying to make is that we have the worst levels of income disparity of most of the OECD countries.

“It is getting worse. And corporate taxation is a part of it. If we want to live in a more egalitarian society, and fund our public services, we cannot go on creating worse levels of inequality.”

The Labour leader reiterated this was not a specific policy – merely “a view on it” – and answered when questioned on it again: “I would like to see a maximum earnings limit, quite honestly, because I think that would be a fairer thing to do. Because we cannot set ourselves up as being a grossly unequal, bargain basement economy on the shores of Europe.

“We have to be something that is more egalitarian, gives real opportunities to everybody and properly funds our public services.”

On Sky News, he said the cap would be “somewhat higher” than his current salary (£138,000), before asking the question: “Why would someone need to earn more than £50million a year?"

The issue also came up when the 67-year-old was on Good Morning Britain this morning. He said that later today, in a speech at Peterborough, a marginal Conservative seat, he will provide: “[A] clear definition that we protect the working conditions and wage levels that are here [for a post-Brexit migration system].

“Some companies – particularly in the construction industry – are making a fortune out of getting rid of workers in this country on one set of pay and conditions and bringing in others to replace them.

“That creates awful tensions in those communities.”

Read More

Gender pay gap for celeb sportsmen & women revealed

Male footballers earn 250 times their female count...

HR Grapevine
HR Grapevine | Executive Grapevine International Ltd
These are the biggest distractions for remote workers

The workplace is full of distractions...

HR Grapevine
HR Grapevine | Executive Grapevine International Ltd
Simplyhealth and Denplan merge & rebrand

Simplyhealth and Denplan are merging to become one...

HR Grapevine
HR Grapevine | Executive Grapevine International Ltd
British Airways threaten to cut staff perks to stop strikes

Strikes have dominated recent news headlines as staff...

HR Grapevine
HR Grapevine | Executive Grapevine International Ltd
Google allegedly lose staff because they 'paid them too much'

Employees at Google's self-driving car unit are leaving...

HR Grapevine
HR Grapevine | Executive Grapevine International Ltd
Third of mums would have to quit work without school Breakfast Clubs

A third of working British mums (33%) would have to...

HR Grapevine
HR Grapevine | Executive Grapevine International Ltd

Comments (1)

  • Sir
    Wed, 11 Jan 2017 2:05pm GMT
    C'mon Jeremy, how on earth can we win the war for the best talent in the world if we can't pay then what the market demands ?
    What we really need are more affordable homes near centres of industry to fuel key UK industries with competitive labour. Nothing fancy, corrugated tin should do it - and maybe a water supply. This seems to work in other major conurbations overseas.

Guide to Employee Benefits

Guide to Employee Benefits 2015

Related Insights

Register for FREE access.

* By registering you agree that you have read and agree to our Terms and Conditions and that Executive Grapevine International Ltd and its partners may contact you regarding relevant content and products.
HR Grapevine Magazine Latest Issue

Magazine Features