HOOD ROBIN

It is now apparent that the banks are lining up about £4billion in bonuses for themselves. This is following the £1trillion cost of the bank bailout [see the English Rights Campaign entry dated the 20 January 2009].

The USA and many other European countries are imposing restrictions on bank remuneration. France has a set of new rules expected to come into force in 2 weeks and the USA has capped top executive pay at $500,000 for all banks in receipt of taxpayers’ money. Not so Britain - not even on those banks which are effectively nationalized. Instead, Labour are trying to kick the issue into the long grass by announcing the setting up of an enquiry.

The banks are talking about the need to attract the best people, and that bonuses might be a part of employment contracts. That is irrelevant. They cannot pay the bonuses if they do not have the money. In fact, they are insolvent. They have the money because Labour has given them large amounts of taxpayers’ money.

Using taxpayers’ money to award bankers bonuses is unacceptable.

Labour simply do not understand as they are a part of the problem, and a part of the spiv culture. Bankers are regarded as being above the law and not subject to the same economic rules as ordinary plebs. They do not get their hands dirty for a living. Access to the high life and taxpayers’ money is a right as they are so important.

Labour are of a similar mentality. They have awarded peerages to their donors. They are used to hobnobbing at international conferences, the EU or on oligarch’s yachts off Corfu. Awarding themselves and their supporters cushy jobs on quangos - with the attendant inflation proofed pension.

Just today, it has been revealed that Jacqui Smith, the Home Secretary no less, has been pocketing £116,000 of taxpayers’ money for a second home when she was in fact lodging with her sister.

The British ruling class is taking the ordinary taxpayer to the cleaners.