Wednesday 22 March 2017 / 11:08 AM 2017 Press Archive / The Latest from Labour

After seven years of Tory failure on the economy, it’s the super-rich who’ve gained at the expense of the rest of us – John McDonnell

John
McDonnell MP, Labour’s Shadow Chancellor
, commenting on the revelations by Equality Trust that the average FTSE chief
executive earns 386 times more than a worker on the national living wage, said:

“These
shocking figures show that after seven years of Tory failure on the economy,
it’s the super-rich who’ve gained at the expense of the rest of us.

"It
also exposes the Tories’ rigged economy, where despite real earnings
still being lower than before the crash and public services like the NHS
experiencing their worst-ever crisis, they are handing out £70 billion in tax
giveaways to the super-rich and big corporations. At the same time the Tories
are cutting in-work benefits to the low paid.

"Only Labour will deliver a fair economy that doesn’t hold people back by
introducing a £10 an hour Real Living Wage, a fairer taxation system, and by
tackling excessive boardroom pay with fairer distributions of rewards
within companies.”