Monday 16 February 2009

Cameron jumps on the bonus bandwagon

This just about sums up everything that I find so irritating right now. Why on earth should the leader of the Opposition want to stop a bunch of pretty junior people in a retail organisation making a bonus of about £1,000 (against a salary of about £17,000) for working their asses off and hitting targets?

How would Cameron define "executives"?  From what I can see Lloyds are not talking about giving bonuses to executive directors already. So who else does he mean?

Asked whether staff should get extra cash, Mr Cameron said "Basically no. Those banks that are owned by the taxpayer or where the taxpayer has a large stake - it's completely wrong to be paying bonuses."  

Interesting. Is he even remotely interested in retaining any degree of value in the businesses that the government owns a stake in?  This is the absolute perfect reason why politicians should not be running businesses, even ones they own.

Never one to miss out on a passing bandwagon, Employment Minister Tony McNulty also appears to have waded in, saying staff on lower salaries should not forgo their bonuses, but the issue was totally different for senior executives.  "I would draw the line between senior managers, board members, executives, those responsible for the business model and strategy that got them into the mess, they shouldn't get a penny," he said.

Erm, okay. What about everyone else in the middle who also worked hard for their bonus?

I know the peasants are revolting at the moment but this is getting absurd. 

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