Income Equality and Sustainability

Lord Monks Excerpts

Wednesday 6th May 2020 Lords Chamber

[Lord Monks (Lab)]

My Lords, I am pleased to take part in this debate. I wish the most reverend Primate very well for the future and thank him for his outstanding service to date.

Inequality has widened since the 1980s. Some have argued that it has been inevitable, but it is not. There are other reasons, but it is in part a result of the decline of collective bargaining, as my noble friend Lord Hendy argued. Collective bargaining needs a boost; Stanley Baldwin did it in the 1920s and 1930s. That would do quite a lot to end the self-servicing ethos that lurks in the corners of too many boardrooms.

We know that more equal societies do better on a range of issues, including education and health, to pick out two. They are also doing better with the virus, which is disproportionately affecting the UK’s poor, as others have argued. This must not be repeated in the post-Covid world. We have a chance to do something about that.

I have a couple of questions. Will the Government agree to the TUC proposal to establish a national economic and social council to forge a national strategy on equality and recovery in a way that is fair to all sections of the community? Secondly, as my noble friend Lord Wood suggested, will the Government consider a one-off solidarity tax, including on wealth, to fund job creation and the NHS, and perhaps even bite into some of the debts that we have recently been running up at a tremendous rate?

This week, as we commemorate the spirit of VE Day, can we recover that kind of spirit as we go forward to tackle our problems and let the broadest shoulders carry the heaviest burden?