The week’s hot topic: Should a maximum wage cap exist in Britain?
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With this in mind, we’ll be presenting a weekly hot topic, giving you the chance to have your say on issues surrounding the business world.
Leader of the Opposition Jeremy Corbyn has raised many an eyebrow this week, calling for a maximum pay cap for high earners.
The Labour leader contended that to end the ‘grotesque levels of difference’ between Britain’s average earners and society’s best paid, the introduction of salary restrictions could close the gap. Mr Corbyn, however, did not explicitly state what such a capped figure should be.
Despite Corbyn aides claiming the leader ‘misspoke’ on the matter, the question of equality in British pay remains at the forefront of national news.
Jeremy Corbyn’s tenure as Labour leader has been synonymous with controversy since he assumed the post in September 2015.
With a staunch adherence to his own Socialist values and continued defiance towards populist opinion, Corbyn has practically cemented himself as marmite figure in the British political spectrum - certainly amongst his own party!
Perhaps this latest ‘Corbynism’ is a prime example of Jeremy’s idealism over pragmatism.
Inarguably, we do live in a country where unequal pay and class difference very much splits society. And, of course, it is the duty of our politicians to ensure living in Britain is as fair and democratic as it possibly can be.
The Labour leader’s sentiment here, suggesting that many amongst us have too much money to spend, holds much truth. With millions lining food banks every week, the makeup of our country in 2017 is disillusoning and must not be allowed to go unchallenged.
However, as apparent with much Corbyn PR, many feel what Jeremy is calling for is simply unrealistic. Is capitalism today too far gone to control?
Ultimately, in today’s global economy, it would seem an impossible task to control the highest levels of pay.
Perhaps the real goal here should be a concrete solution to reducing the infamous ‘fatcat’ pay, which seems forever on the political agenda yet eternally unresolved.
What do you think? Is there substance in the argument Corbyn presents? If a cap was to be introduced, at how much should it be? Is Labour’s leader wasting his breath? Join us in the comments section below to get involved in this week’s hot topic.
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