Labour Party leader Jeremy Corbyn backed away from his pay cap proposals as the Adam Smith Institute marked the plans as "bananas" in Bloomberg news.
The Adam Smith Institute, which also promotes unfettered markets, was also dismissive [of the maximum salary cap]. Sam Bowman, executive director, said: “A maximum salary cap would hurt British firms and ultimately ordinary British workers. If you’re a worker for a FTSE 100 firm, this is bad news: your job security and wages will suffer if your company isn’t led by the best people in the world.
“If you’re saving for a pension, this is bad news: the value of your savings will suffer as British firms become less productive, starved of global top talent. If you rely on the NHS or other public services, this is bad news: tax revenues will fall as these highly-paid executives move abroad."
Sam Bowman's comment also appeared in The Irish Times:
"The Adam Smith Institute dismissed it as “bananas” although, with remarkable restraint, it avoided the use of the words “peanuts” and “monkeys” in its response. “If we want Britain to boom, we need to let business hire who it wants and pay them what it wants,” said director Sam Bowman."
And in The Independent, City A.M, i News Online, Economia, and The Evening Standard:
"A maximum salary cap would be completely bananas and hurt British business and ultimately ordinary British workers.
"The strategic decisions that top bosses make affect every part of their firm, and multinational corporations are right to spend what it takes to attract the best business leaders to Britain."