Politicians often adopt working-class personas to connect with ordinary citizens. In 2008, Republican US presidential candidate John McCain frequently referred to “Joe The Plumber” to highlight his blue-collar appeal. However, this tactic did not prevent his campaign from faltering.
In 1986, when Margaret Thatcher privatized British Gas, an advertising campaign encouraged individuals to buy shares by appealing to “Sid.” Unfortunately, many shareholders later sold their stakes to profit-seeking firms, leading to disillusionment with the privatization.
A potential strategy for the Labour party involves urging individuals who have benefitted from economic growth post-financial crisis to contribute more to the government’s finances. One effective approach could be a campaign displaying messages like “Be more like Gary” in financial districts and media outlets.
The story of Gary Grant, who is retiring and transferring ownership of his £80 million toy retail business, The Entertainer, to the company’s 1,900 employees, serves as a model for wealth distribution. This move ensures that the staff share in the profits and have a say in the company’s future, diverging from the typical corporate approach of maximizing profits at the expense of workers.
Similar gestures of generosity have been seen before, such as Julian Richer handing over control of Richer Sounds to staff members, and the Patriotic Millionaires UK advocating for increased taxes on the wealthy to address income inequality and societal issues.
Individuals like Gary Grant, Julian Richer, and the Patriotic Millionaires could offer valuable insights to Labour on incentivizing other business leaders to follow their example. These individuals understand that true fulfillment comes from compassion and sharing wealth with those who have contributed to their success.
Patriotic Millionaires, who advocate for a wealth tax on assets over £10 million, suggest that a significant portion of millionaires support such measures. Labour could explore this avenue further by engaging with prominent millionaires and business organizations to encourage a culture of giving back.
If appealing to the wealthy’s conscience fails, there may be value in publicly calling out those who refuse to contribute more to society. By highlighting the actions of altruistic individuals and pressuring others to follow suit, Labour could potentially prompt a shift in attitudes towards wealth distribution.