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Banking (Responsibility and Reform)

They did not go, and the banks did not collapse. They recruited chief executives and board members. In fact, in 1979, the inequality gap, as measured by the Gini coefficient, was at its lowest in the entire post-war period. Does that matter? I suggest that it does. If I were an employee of Barclays, working as a teller or in a back-room job, my motivation to work hard would go down as I learned about the huge disparities in pay. This is not about jealousy, or about feeling that people should not be able to earn. If we want people to accept, as we have suggested, that we cannot increase public sector pay in the way that we want to, and if we are all in this together, it has to be fair. That is primarily what the motion is about. Those who do not support it will find that, rather than wanting to dig in and be ““all in this together””, people will be dissatisfied and demoralised, and our businesses simply will not grow.