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Corbynomics would change Britain—but not in the way most people think

“Preston, in north-west England, is a laboratory for other aspects of Corbynomics. Under an agreement with the local council, large public institutions such as the university bias their procurement towards providers in the local area. For Matthew Brown, the councillor who started the scheme, it is about taking back control of public resources. ‘It democratises the capital,’ he says. If elected to Downing Street, Labour would get the government to use its colossal procurement budget for policy goals, demanding that suppliers pay the living wage (a voluntary amount slightly higher than the statutory minimum wage) or cap bosses’ pay at 20 times that of the median worker, for instance.”

Read more in The Economist.

 

Publication date: 2018-05-16
Parent publication: The Economist
Publication URL: https://www.economist.com/britain/2018/05/17/corbynomics-would-change-britain-but-not-in-the-way-most-people-think

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