Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Corbyn calls for maximum wage law  Join our daily free Newsletter

MENAFN - Gulf Times - 10/01/2017
No. of Ratings : 0
Add to Mixx!


(MENAFN - Gulf Times) Jeremy Corbyn has called for a maximum wage for the highest earners, saying he fears Brexit will see the UK become a 'grossly unequal, bargain basement economy.
The Labour leader would not give specific figures, but said radical action was needed to address inequality. 'I would like there to be some kind of high earnings cap, quite honestly, he told BBC Radio 4's Today programme yesterday.
When asked at what level the cap should be set, he replied: '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 countries.
'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.
Corbyn, who earns about £138,000 a year, later told Sky News he anticipated any maximum wage would be 'somewhat higher than that.
'I think the salaries paid to some footballers are simply ridiculous, some salaries to very high earning top executives are utterly ridiculous. Why would someone need to earn more than £50mn a year?
The Labour leader, who is an Arsenal fan, said he thought his team's manager, Arsene Wenger, 'would probably like it very much indeed, he'd probably like there to be a maximum wage cap on the whole of the Premier League.

Corbyn said he believed taxpayers would ultimately benefit from job creation as a result of lower executive pay.
'They would have less of their enormous pay levels and more would go back into the company and our society as a whole, he said. 'Economic development does benefit the taxpayer because more people work and get jobs and pay taxes. It's something we're looking at and learning from others.
Corbyn had expressed his view on the issue before, during his leadership campaign.
'It's a kind of philosophical question really. There ought to be a maximum wage. The levels of inequality in Britain are getting worse, he told the Herald in 2015.
Corbyn stressed he was not announcing a specific policy on a law to limit income, but said he had 'got a view on it.
Pressed again, he said: '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.

MENAFN1001201700670000ID1095176039

 


Gulf Times




  MENA News Headlines
 Jan 20 2017 - Saudi's Bahri records USD469mn net profitMENAFN
(MENAFN) National Shipping Co. of Saudi Arabia (Bahri), a pioneer in logistics and transportation has posted a net profit of USD469.3mn in 2016.Moreover, the firm recorded net revenue of USD1.8bn and ...

 Jan 20 2017 - UAE's real estate sector to increase this yearMENAFN
(MENAFN) The UAE real estate sector, spearheaded by its two main markets Dubai and Abu Dhabi, will make positive increase this year.Furthermore, the diversity of the UAE economy helped the country ...

 Jan 20 2017 - Mideast debt issuance reaches USD77bnMENAFN
(MENAFN) Middle Eastern debt issuance reached USD77.8bn in 2016, a 145 percent increase compared to the value raised amid 2015, the highest annual total in the region since 1980.Moreover, Mideast ...

 Jan 20 2017 - Qatar- Construction boom brings travel miseryGulf Times
(MENAFN - Gulf Times) The traffic along the road between Barwa Village signal and Mesaieed has become a nightmare for commuters owing to a huge increase in the movement of heavy vehicles, especially ...

 Jan 20 2017 - Qatar- Souq Waqif Spring Festival gets off to a colourful startGulf Times
(MENAFN - Gulf Times) An array of cultural performances and stage shows marked the opening of this year's Souq Waqif Spring Festival, which will run until February 2, from 3.30pm to 10.30pm daily. ...

 Jan 20 2017 - Qatar- Traders, customers lament absence of ATM at Ain Khalid SouqGulf Times
(MENAFN - Gulf Times) Shopkeepers as well customers at the Ain Khalid Souq have rued the absence of an ATM at the complex which houses dozens of commercial outlets, offices and restaurants. The ...

 Jan 20 2017 - Qatar- New deal extends helping hand to bereaved orphansGulf Times
(MENAFN - Gulf Times) Qatar Red Crescent Society (QRCS) has signed a memorandum of understanding (MoU) with Hamad Medical Corp (HMC) to provide aid for young orphans whose family breadwinner dies ...

 Jan 20 2017 - Mwani Qatar launches diabetes awareness driveGulf Times
(MENAFN - Gulf Times) Qatar Ports Management Company — Mwani Qatar, in association with the Qatar Diabetes Association (QDA), has launched a campaign to raise diabetes awareness among its ...

 Jan 20 2017 - QRCS' projects in S Sudan benefit thousandsGulf Times
(MENAFN - Gulf Times) The Qatar Red Crescent Society (QRCS) has completed a number of water, sanitation, and hygiene (WASH) projects in Central Equatoria and Northern Bahr El-Ghazal, in South Sudan ...

 Jan 20 2017 - Emirates Airline Literature Festival tickets go on saleGulf Times
(MENAFN - Gulf Times) Tickets are now on sale for the ninth Emirates Airline Festival of Literature, the organisers have announced. The annual literary extravaganza brings a host of top authors to ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help