Bankers Bonuses

At a time when the incomes of most British people are being squeezed by low nominal pay rises and inflation, the vast majority of people will doubtless argue that bankers' bonuses still remain unacceptable The government was resigned to UK banks paying out billions of pounds in bonuses this year, despite its calls to curb the payments which the banks choose to ignore,
RBS - 84%-owned by UK taxpayers - reported losses after tax of £1.4bn for the six months to 30 June yet they still paid out generous bonuses to their staff.
The banks are not going to make a profit in this sort of environment and their provisions are only going to get worse. Bankers salaries have risen significantly and up to 40% in some cases yet bonuses are still being awarded on top of these very generious pay rises.
Banks should face a new tax on all bonuses paid to their staff, The Goverment should take steps to ensure a minimum of 75 per cent tax on all bonuses is made with no loopholes for bankers to exploit.

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Created By

Paul Thompson

Created On

Sunday 14 August 2011

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