• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
No Result
View All Result
Home Business and Economics Business

Corbyn maximum salary cap plan to reduce UK inequality divides the nation

It didn’t feel great to read about “Fat Cat Wednesday” just as the January depression was about to kick in. To know that UK top bosses earned more in two and a half days than most will make in the whole of 2017, made me want to crawl back into bed, i doubt I was […]

Joe Mellor by Joe Mellor
2017-01-10 16:18
in Business, News, Politics
FacebookTwitterLinkedinEmailWhatsapp

It didn’t feel great to read about “Fat Cat Wednesday” just as the January depression was about to kick in. To know that UK top bosses earned more in two and a half days than most will make in the whole of 2017, made me want to crawl back into bed, i doubt I was alone.

There was a fairly strong public outcry at this shocking statistic, so riding on the back of that Jeremy Corbyn, today, announced he would consider a maximum wage, limiting the amount someone could earn in the UK.

Corbyn is hoping that this limit would create a more equal and fair society and help fund public services. However, senior employees could be paid out of company profits or with shares to make up their income.

The people who would fear this wage the most are the people on huge sums of money, most people will never make anywhere near the cap, average salary is £28,000 per annum, so the limit would never trouble them.

He kicked off the idea during an interview on the BBC Radio 4’s Today programme, when Corbyn said: “”I would like there to be some kind of high earnings cap, quite honestly…I can’t put a figure on it.

“The point I’m trying to make…is that we have the worst levels of income disparity of most of the OECD countries in this country. It’s 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.”

RelatedPosts

Andrew Neil has Johnson hook, line and sinker on ‘leadership duty’ excuse

‘Appalling and upsetting:’ Fury at treatment of security and cleaning staff during partygate events

Boris Johnson snaps at Beth Rigby during tense press conference

Watch: ‘I’m being heckled by my own people’ says Tory MP as he slams PM and demands he resigns

He condemned the “ridiculous” salaries of company executives and Premiership footballers. Although he didn’t give an exact figure he indicated it would be “somewhat higher” than the £138,000 he takes home a year.

A huge Arsenal fan he slammed into top footballers saying: “The salaries that are paid to some footballers are simply ridiculous. I think some of the salaries paid to very high-earning top executives of companies are utterly ridiculous.”

Not everyone was positive about it though…

 

“It’s absolutely f*****g bonkers” “he came up with it off the top of his head” one Labour Party source tells me of Corbyn wage cap idea.

— shelley phelps (@shelleylphelps) January 10, 2017

Luvvie socialists respond to Jeremy Corbyn’s #maximumwage cap pic.twitter.com/LRKU3PyNkE

— Martin Daubney (@MartinDaubney) January 10, 2017

Tags: featured

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

Boris Johnson branded a ‘part-time’ PM as Corbyn takes aim over flood response

Railway worker and mum died ‘after being spat on by man with Covid-19’

Former special advisor to Sir Michael Fallon groped woman under her skirt at Christmas party, court hears

Today irony died: Theresa May says no referendum without knowing what alternative looks like

James Cleverly made to squirm on GMB as he defends UK’s Covid record and the “oven ready deal”

Brexiteers on the hunt for home-grown tea as Buy British campaign goes viral

‘Clean the stables’: Johnson faces calls for urgent sleaze inquiry

Schoolboy missing after falling from Tower Bridge into River Thames

‘Clubs from Europe can unsettle your team’ – Spurs boss labels ruling ‘massive mistake’

In pics – Harry Styles, Tom Hardy Cillian Murphy tred the red carpet at Dunkirk Premiere

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.