Your leading article about the relationship of government and unions makes the crucial point on the comparative share in corporate profits of capital and labour.
Is not the problem that company law enshrines the primacy of the shareholder? Directors, whilst having regard to their stakeholders, have to put their owners first.
As well as escalating dividends, this is manifest in share buybacks, using money that should have been invested in the business. Markets demand this as shown in comparative market ratings. It is also shown in the number of companies sold to overseas owners.
We may recall that Theresa May promised Company law reform following her appointment as Prime Minister; nothing came of this.
If Labour is serious about rebalancing the economy, Company law needs a radical overhaul to embrace all stakeholders, something that will demand the Wisdom of Solomon but also an eye to the practice in other countries.