The plan has so far been met with some disapproval. One former economic adviser claimed that capped earnings would be totally idioticMr Corbyn said that he wants to place a cap on high-earnings in Britain, as he wants to help counteract the increasing inequality between high earners and those on low incomes.
He claimed that he would like to see an earnings limit as it would be fairer than the current system. He believes that a cap would be one of the best ways to deal with what he calls the grossly unequal economy.
Mr Corbyn refused to suggest the level at which the cap should be set, but he did hint that the amount would still be fairly high after telling Sky News that it would be somewhat higher than his own yearly wage of £138,000.
This has come as a surprise to many people, including senior colleagues in the Labour party. One shadow cabinet minister has already claimed that Mr Corbyn was expressing his personal view. The minister may be right as when Mr Corbyn made a speech a few hours later there was no mention of the capped earnings. Instead, he suggested that companies could help to reduce the ratio between high income and low income workers.
The plan has so far been met with some disapproval. One former economic adviser claimed that capped earnings would be totally idiotic, with other economists saying that the plan was totally unworkable. Business leaders also believe that the plan is a non-starter.
Freedom of movement
One of the main issues highlighted during the referendum campaign was unregulated migration. This highly controversial topic has Britons divided, with many people worried about the effects of unregulated migration. Despite these fears, migrant workers have proved to be a valuable contribution to many sectors including IT and healthcare.
The current Conservative government has said that it wants to reduce migration to tens of thousands, which is a difficult target to reach. This has left lots of people wondering about Mr Corbyn’s own plans for freedom of movement.
He delivered his verdict two weeks ago, and it seemed to backtrack on earlier claims. The Labour leader had a pre-written speech that claimed that Labour is not wedded to freedom of movement. However, the politician added that he wouldn’t rule it out if it allows Britain to access the single market. He claimed that Britain cannot afford to lose full access to the European markets as so many British businesses rely on those companies to stay open. Losing this access could negatively affect the economy and thousands of families across Britain.
Migration rules will be part of the Brexit negotiations but it is difficult to predict the result at this point.
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