Jeremy Corbyn said some salaries paid to company bosses and top footballers were “utterly ridiculous” and that there should be a cap on their income to stop it soaring.
The idea immediately received widespread criticism, with a former adviser branding it “idiotic”. Later, his spokesman said he “misspoke” and when asked about it during another interview, Corbyn said a better way of curbing executive pay was by controlling the pay ratio between the highest and lowest earners in a company.
The Labour leader was doing a series of broadcast interviews ahead of his first major speech of the year focusing on Britain’s future after Brexit.
He told BBC Radio 4′s Today programme: “If we want to live in a more egalitarian society and fund our public services, we cannot go on creating worse levels of inequality.
“I would like to see a maximum earnings limit, quite honestly, because I think that would be a fairer thing to do. We cannot set ourselves up as being a sort of grossly unequal, bargain-basement economy on the shores of Europe.”
But it’s caused an interesting debate on Twitter, whether he “misspoke” or not. Many believe a pay cap is completely out of the question.
Create policies which are bad for business, than they will move their business elsewhere losing your country jobs. #maximumwage
— SnowwyWolf (@SnowwyWolfHowl) January 10, 2017
Sounds like communism to me- and we all know how that experiment went. Cue Venezuela and Mao's China. #maximumwage
— Ruby Chow (@doublereds) January 10, 2017
Corbyn is obviously not trying to win the next election #maximumwage
— Dean White (@dnwht_) January 10, 2017
What about tax revenue?
Don't we lose tax revenue if we introduce a #maximumwage ?
— Disaffected Left (@disaffectedleft) January 10, 2017
Jeremy Corbyn's maximum is a great way to reduce tax revenue. Lose all tax revenue from those earning above maximum wage. #maximumwage
— Luke?? (@MrLukeyLuke) January 10, 2017
It could be too easy for the super rich to avoid anyway.
#maximumwage silly. Far too easy to get round – higher taxes for higher earners & new tax brackets for super high earners more workable.
— Miles Jacobson (@milesSI) January 10, 2017
Corbyn max wage idea idiotic firms would simply pay workers by giving profit shares
— Danny Blanchflower (@D_Blanchflower) January 10, 2017
And these people have a point about Corbyn’s OWN salary.
Jeremy Corbyn says his £137k would not fall within the #maximumwage cap. To many of his target voters £37k would be a dream salary.
— Alex Murray (@AlexRJMurray) January 10, 2017
Definitely agree with #maximumwage but only for politicians!
— Pam Stones (@pam_stones) January 10, 2017
But not everyone feels that way.
Can't say I'm opposed to the idea of the #maximumwage. No-one needs (m/b)illions a year when there's still homelessness and poverty about.
— Chris Were (@ChrisWere_) January 10, 2017
#maximumwage is interesting idea. Should be a max % of lowest paid employee. If top execs want more, everyone should get more.
— Johnny Lowden (@JohnnyLowden) January 10, 2017
And some think it’s really possible.
State sets minimum wage, we accept that, so there's a precedent for state to intervene on setting wage levels #maximumwage
— Mark Thomas (@markthomasinfo) January 10, 2017
Although his choice of words may have gone down like a lead balloon, many think his point was an important one to make.
Whatever precise mechanism, Jeremy Corbyn is totally right to be setting agenda on the crucial issue of obscene pay differentials today.
— Ed Miliband (@Ed_Miliband) January 10, 2017
Say what you want about Corbyn but he is bringing inequality to the forefront of political conversation. Fair play! #maximumwage #Corbyn
— Chris Fenrock©? (@chris_fenrock) January 10, 2017
#maximumwage Greed at one end promotes poverty at the other. Something must be done to close the huge gap between rich and poor.
— Thomas Hemingford (@THemingford) January 10, 2017
Maybe high salaries aren’t the problem.
Redistribution, an actual living wage, and a closing down of tax loopholes will be far more helpful than #maximumwage
— nos omnes fututam (@LUBOttom) January 10, 2017
People need a living wage, a universal basic income, affordable education, public healthcare & a good tax system not a #maximumwage.
— Harry Leslie Smith (@Harryslaststand) January 10, 2017
I feel like this #maximumwage debate takes away spotlight on those who are struggling – let's focus on helping them. Raise minimum wage.
— Lisa Gifford (@LisaGifford) January 10, 2017
Or maybe it’s all bad.
Jeremy Corbyn proving that left wing politics are just as out of touch as right wing these days. #maximumwage
— James, Chaostician (@MrTuxed0) January 10, 2017