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MP proposes 'maximum wage'

A Labour MP has proposed a pay-capping law that would see an end to the “telephone number” pay packets of chief executives and footballers.

Sherwood MP Paddy Tipping gave the first reading of his Maximum Wage Bill in the Commons on Wednesday, which was slammed as “Stalinist”.

He did not give an exact figure to the maximum wage, but said there was a “strong case” for capping it at ten times the minimum, currently £5.60, meaning a maximum pay of nearly £120,000.

When introducing his Bill, Paddy Tipping said: “There is a real crisis in our economic system, there is a matched crisis in our political system. “Reform is necessary, it is urgent.”

He claimed the Bill would provide “a vehicle, not just for debate and discussion, but for progressive politics, for change, for justice and fairness.”

But Tory MP Sir Paul Beresford has criticised the idea, saying: “The damage that this would do to this country is immeasurable. To think we would go back to a Communist-type restriction where the Government decides wages and jobs is unthinkable.

“It is uncompetitive and would destroy us.”

The Mole Valley MP added: “Many of the people that would be damaged by such a Stalinist restriction would leave this country and leave the City of London and other businesses.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .