Big flagship policy! Companies will be forced to pay the living wage as a minimum to all it’s employees and prevented from paying dividends if it doesn’t. But hang on a moment…didn’t Osborne announce that the minimum wage would increase to the living wage by 2020 anyway? In which case it’s already going to enshrined in law and the dividend block will never apply. Never mind! It sounds good.
Now I know some of will point out that it only applies to over 25 year olds – which I agree is unfair – but then Corbyn didn’t exactly present it like that, did he? No, because that wouldn’t have sounded so good.
Other big announcements? Allowing small businesses to enter the energy market. Well, they already can so that’s nonsense too.
And then there’s the old chestnuts – renationalising the railways, extending infrastructure, building more houses blah blah blah! Well, where’s the money coming from Jeremy? Tax and spend, same old same old? Sound familiar?
To be fair, he makes a few good points. For example, the so called John Lewis model where maximum pay is restricted to a multiple of minimal pay within an organisation. Looking at the growth in that multiple, I would agree things have got out of hand at the top. But let’s not start another brain drain while we’re at it.
The one thing that Corbyn hasn’t yet learnt is that you can’t spend your way out of a recession and that squeezing the rich until the pips squeak stifles investment, growth and jobs. Until he learns that God forbid he ever gets into Number 10 because it will be a disaster for the UK