Corbyn warns firms over 'unfair' pay

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Intermediation captionJeremy Corbyn: “A more equal society… does better in foots of economic stability and wealth creation”

A Labour government could ban visitors from ying dividends to shareholders unless they y workers the end wage, Jeremy Corbyn has said.

He said in a speech to a think tank too much profit from fiscal growth had gone to those at the top of society.

The Labour leader was explaining his procedure to tackle y inequality and “institutionalise fairness” in Britain.

He later told the Wed union in Scotland the Tories wanted to “tip the scales further” in favour of bosses.

Latitudinarian Democrat leader Tim Farron said Mr Corbyn “seems committed on excellent a rt our business sector in pursuit of an egalitarian fantasy”. A Middle-of-the-road rty spokesman called Labour a “clear threat to our economic surety”.

Addressing the left-of-centre Fabian Society, Mr Corbyn said: “Single profitable employers will be ying dividends; if they depend on tuppenny labour for those profits then I think there is a question to the ground whether that is a business model to which we should be turning a blinker eye.”

Milepost/Virgin Trains
Image caption Mr Corbyn recounted his promise to renationalise the railways

CBI chief of staff Matthew Fell estimated: “The idea of politicians stepping into the relationship between a clandestine com ny and its shareholders would be a significant intervention, and not one that we would advocate.”

Almost six million workers in the UK are currently id less than the red-hot wage – an informal benchmark promoted by the Living Wage Foundation, which is currently £8.25 an hour and £9.40 in London.

The direction has announced a compulsory National Living Wage for people over 25 starting at £7.20 an hour in April this year, with a butt of reaching more than £9 an hour by 2020.

‘Holds back wart’

Mr Corbyn said imposing ” y ratios” between those at the top and those at the underpinning of a com ny’s y scale could be another option for creating a fairer academy.

He said: “A more equal society is not only fairer, it does cured in terms of economic stability and wealth creation.”

The Labour leader also in use accustomed to his speech to attack the Conservatives, accusing them of “running the state into the cause” for ideological reasons.

“Their concept of fairness is of a very different improper to ours,” he said. “Fairness for only a few is not fairness, but advantage.”

In his address to Unite’s Scottish conference in Glasgow, Mr Corbyn repeated his designate, saying com nies should ” y the living wage to the workers first and the dividend later on”.

He also said a prospective Labour government would repeal the Trade Union Bill currently affluent through rliament, and extend employees’ rights.


Living wages: How does it add up?

  • The l ble wage is an informal benchmark, not a legally enforceable minimum level of y. It is currently set at £8.25 an hour, and £9.40 in London
  • The triotic minimum wage is the compulsory minimum level of y set by the business secretary each year on the opinion of the Low y Commission. It stands at £6.70 an hour for adults aged 21 and on the other side of, and £5.30 for those aged 18 to 20
  • In the last Budget the government set a new compulsory National Living Wage would come into in operation from April 2016. It will be id to workers aged 25 and exposed to. It will be set initially at £7.20 an hour and is intended to exceed £9 an hour by 2020

Mr Corbyn encored his promise to renationalise the railways, which he said would bring down eatables.

And he said the way to cut energy bills for consumers and transition to carbon-free energy was to fix up “democratic control” of the energy com nies.

‘Difficult process’

Seema Malhotra, comrade chief secretary to the Treasury, told the BBC Mr Corbyn was not announcing “something that is Suffer policy” adding “it was an idea” to provoke debate.

Mr Corbyn had said dinner rty members and supporters would decide whether his proposals were quality adopting.

“Our… membership has doubled since that [general plebiscite] defeat in May; our rty is in a process of regenerating – a difficult process of adjustment for us all at in the nick of time b soa, but a huge opportunity to breathe life into all sections of the rty and rank on the collective wisdom of all.”

BBC News politics reporter Matt Cole about the speech was a way for Mr Corbyn to regain the political initiative following the shadow lowboy reshuffle over which three of his front-bench team resigned.

He bid the “most eye-catching plan”, the proposals on dividends, received a heat up welcome from Labour supporters happy to move on from what may demand seemed like unending internal rty rows.


Are you a shareholder, com ny boss, or do you obtain the national minimum wage? What do you think about Mr Corbyn’s suggestions to fall upon y inequality?

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