BlogWAGE CAP SUGGESTION ‘MORE LABOUR FOLLY’

WAGE CAP SUGGESTION ‘MORE LABOUR FOLLY’

WAGE CAP SUGGESTION ‘MORE LABOUR FOLLY’

Author: Michael Wrench

Added 1 month, 1 week ago.

Suggestions by Labour leader Jeremy Corbyn of a cap on the maximum amount people can earn have been described as “more Labour folly” by local MEP James Carver.

 

Corbyn has resurrected the idea of the cap, first raised in his leadership contest, as he believes levels of income disparity are getting worse.

 

“This amounts to a policy of envy and will lead to the best people in the City moving abroad,” said Mr Carver, West Midlands UKIP Euro-MP.

 

“It will lead to lack of aspiration and also drive entrepreneurs out of the country, instead of creating jobs and tax revenues here.  

 

“Wages received by some footballers are undoubtedly ridiculous but Corbyn should not be poking his nose into the world of top flight sport. 

 

“The salaries of top civil servants and local government bosses, however, do need investigating and limiting as that is money being taken from the pockets of ordinary tax payers.”

A maximum wage cap is a race to the bottom

Commenting on Jeremy Corbyn's suggestion that a maximum wage cap should be introduced to tackle inequality in pay, Mark Littlewood, Director General at the Inst

.iea.org.uk



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