(Picture: Rob Stothard/Getty Images
(Picture: Rob Stothard/Getty Images

Jeremy Corbyn is due to outline his plans to ban CEOs from earning vastly higher wages than employees, as well as prohibiting bonus pay until all staff have earned the living wage:

  • The Labour leader will commit the party to action to "institutionalise fairness" as he sets out proposals which aim to close the gap between top earners and low-paid staff

  • He will also repeat his backing for bringing the railway network back into public ownership

  • And for "democratic control" of the energy giants

  • However, critics, both inside the party and outside it, will seize on the plans as evidence that he is attempting to drive its policy platform to the left

  • Interference with company pay structures is also bound to face fierce criticism from business chiefs

Mr Corbyn will tell a Fabian conference in London:

Too much of the proceeds of growth have accumulated to those at the top.

Everyone benefits when companies succeed. One proposal is pay ratios between top and bottom, so that the rewards don’t just accrue to those at the top.

Of the G7 nations, only the US has greater income inequality than the UK. Pay inequality on this scale is neither necessary nor inevitable.

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