Shadow chancellor John McDonnell has said workers and consumers would “take back control” under a new business model if Labour wins the election.
In a speech in Westminster, he said company boards would include workers and elected members, giving them greater influence over pay structure.
And public sector chief executives would not be allowed to earn more than 20 times someone on the living wage.
That would mean a maximum salary of about £350,000.
The plans were part of an overall vision to create a business model that was not based on the “unfettered pursuit of profit maximisation”.
He said the relentless pursuit of shareholder value and “corporate greed” had been to the detriment of the workers who create that wealth.
“Labour’s reforms to how our large businesses and public utilities are governed, owned and regulated and how both workers and consumers are represented will genuinely enable them to take back control,” he said.
Mr McDonnell added that he would like to see large companies that were not taking adequate steps to tackle climate change be delisted from the FTSE 100.
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