Jeremy Corbyn’s quest to curb enormous executive salaries will never succeed

For better or worse we now live in a world where former prime ministers and chancellors can earn more in a few weeks from a few speeches about their role than they ever could when they were actually in office. It is just one example of the problems faced by Labour leader Jeremy Corbyn in his quest to curb what he sees as exorbi- tant company executive salaries (your report, 11 January). He must surely see that there is a world of difference between real proposals to reduce inequality and the economics of bedlam which executive pay limits might produce.

Any “law of the maximum” is sure, in time, to come up against the realities not just of company pay structures but world economic conditions. There is the real possibility of a loss of talent and entrepreneurial verve to other countries if people are told by law that there is an upper limit to what they can earn.

In any case, it is the purpose of a progressive tax system to try and deal with gross disparities in income. Mr Corbyn and his shadow chancellor John Mcdonnell have made great play since their election of the importance of clamping down on tax avoidance and evasion.

They should complement that with workable proposals on employment protection, dealing in an appropriate way with the scandal of exploitation and overuse of zero hours contracts.

High executive salaries can often be justified on grounds of contacts, motivational ability and knowledge of national and international markets. Most employees would be unconcerned with the level of those salaries if they can be compensated by good working conditions and adequate chances for career progression.

That should be the thrust of Mr Corbyn’s strategy. He should not confuse voters with unworkable policies on company rewards.

BOB TAYLOR Shiel Court, Glenrothes