YESTERDAY, LEADER OF the UK Labour Party Jeremy Corbyn expressed his enthusiasm for the introduction of a maximum wage cap in Britain.
Income disparity in Britain is amongst the worst in the western world, while Corbyn suggested the cap in a speech in light of the “simply ridiculous” salaries being earned by footballers and top CEOs in the UK.
Corbyn expanded upon the idea by suggesting that a maximum income ratio of 20:1 between executives and the lowest-paid employees in a company be instated.
Levels of wage inequality in Ireland are even more pronounced – in fact they’re the worst in the EU, with 35% of all money paid to the top 10% of earners, and the top 1% taking 10% of all income.
But would a maximum wage cap be the answer to the problem of income disparity here?
We’re asking: Should Ireland introduce some form of national maximum wage cap?