As unemployment is predicted to double because of Covid-19, report says capping salaries would save industries
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Caps on excessive salaries should be introduced to save whole industries and redistribute wealth as coronavirus restrictions and changing habits cause large swathes of the economy to shut down, a progressive thinktank has urged.
In a landmark report, Autonomy highlighted the fact that incomes in the UK are the ninth most unequal of the 40 most developed countries, and called for the government to ensure existing resources were better managed to create a fairer economy amid growing poverty. The Bank of England predicts that unemployment will double to 2.5 million people by the end of this year.
