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UK Labour leader wants cap on high earnings

Staff Writer |
Jeremy Corbyn, the leader of the UK Labour party, said he wanted a cap on high earnings in order to tackle growing inequality in Britain.

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Corbyn told BBC Radio 4's Today programme on Tuesday that he would like there to be "some kind of high earnings cap", when he was asked if he wanted to limit how much executives earn.

"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 [Organisation for Economic Co-operation and Development) countries in this country.

"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."

He added: "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. Look at the crisis in the NHS as an example."

Later Corbyn told Sky News that the earnings cap would be higher than his salary as leader of the opposition of about £138,000.

He added that the salaries of some footballers are "simply ridiculous" and that no one needs to earn more than £50m a year.

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