I watched Billy Bragg on the BBC Breakfast News this morning as he explained why he is prepared not to pay his taxes in protest over how the greedy wbanker’s at RBS are planning to award bonuses despite the bank having accrued the biggest loss in British banking history and then having to be bailed out with oodles and oodles of taxpayers’ money.
Unfortunately, I can’t afford not to pay my taxes – which are deducted from my pay at source anyway – but I support Billy Bragg’s position and if I was in a position to do so I would withhold my tax payments too.
If RBS is in a position to shell out £1.5 billion in bonuses then what it should be doing is paying all that money to the Treasury in order to pay us (the public, their majority shareholder) back sooner rather than later. No one at RBS deserves a bonus (with the exception of staff in branches who do an excellent job for a relatively low wage) when the state of the global economy is considered along with the part RBS played in bringing that situation about.
As for the government, well, they are making a total arse of dealing with the bonus situation. They need to take a much harder line with RBS and any other institution which has been propped up with public cash. If these institutions have a bonus fund the government should grow a pair of balls and take the whole damn lot instead of fannying about with windfall taxes. It is utterly wrong that a relatively small number of bankers should live in luxury whilst the country struggles with a financial burden imposed upon them by the incompetence of those same bankers. The £1.5 billion RBS has up its sleeve should be easing that burden not lining already well padded pockets. Or better yet, it should all be going to an aid fund for the people of Haiti.
I also read about this story on Reuters UK and was a bit alarmed to read that:
When asked about Bragg’s initiative, a Treasury spokesman said: “We can reassure people there will not be a significant amount of taxpayers’ cash going to bonuses at RBS.”
Erm, excuse me, BUT!!! I hope that not so much as a single penny of taxpayers’ money is going towards the bonuses at RBS. Letting that happen would be the crowning turd in the cesspit that the British system of economics and government has clearly become!