Green energy mogul Dale Vince, who donated £5 million to Labour in the run-up to the General Election, is urging the Government to tax the rich to fund trade union demands for public sector “pay restoration” deals. The Telegraph has more.
He said: “If you look at other parts of our economy, bonuses are off the hook. Banking bonuses are back with no limit. It can’t be right that we have no limits on one part of our economy and yet we force real-terms pay cuts [on others].”
Mr. Vince argued that there needed to be a “rebalancing on how we do things”, adding that a “change to the tax system would help”.
Mr. Vince suggested footing that bill by taxing the rich, pointing out that the U.K. currently has “tax breaks for people who make the most money”.
Union members are preparing to back a demand at the annual meeting of the Trades Union Congress (TUC) next month to make “pay restoration in the public sector a key feature of our campaigning with the new Government”.
Restoring public sector pay to the same levels as 2011 in real terms is forecast to cost the economy more than £50 billion. …
Labour is under mounting pressure over its relationship with unions after critics warned that public sector strikes could spiral out of control.
There are now almost six million people employed by the state, the highest number since 2012 …
Labour has been accused of caving in to its paymasters after handing out above-inflation pay rises to junior doctors and train drivers, the latter of which led to fears it was being “played” after the Aslef union unveiled more strikes barely 48 hours later. …
Ruth Gregory at Capital Economics said the Chancellor will likely announce £10 billion of tax rises.
Worth reading in full.
To join in with the discussion please make a donation to The Daily Sceptic.
Profanity and abuse will be removed and may lead to a permanent ban.