10 January 2017
The Green Party has responded to comments from Jeremy Corbyn today in which the Labour leader said he supports a maximum wage cap .
Jonathan Bartley, co-leader of the Green Party, said:
“It is good to hear Jeremy Corbyn proposing action on pay inequality, but a maximum wage cap is an unproven, blunt instrument which may not even help in reducing the gap between rich and poor.
“There are policy solutions that Labour could support right now which would reduce inequality. For starters they could reverse their support for an effective tax cut to the top 15% that the Tories are ploughing ahead with by raising the 40p threshold. They could also support a higher top rate of tax – with a 60% rate likely to raise around £2bn.
“We also need to introduce pay ratios so the maximum wage in any organisation is no more than ten times the minimum wage it pays. That way we tackle both low pay and excessive salaries at the same time.”