Treatment Posted April 30, 2010 Share Posted April 30, 2010 This is a good illustration as to what hard work, diligence and ripping off customers can achieve - well done ! Link to comment Share on other sites More sharing options...
tonkatoy Posted April 30, 2010 Share Posted April 30, 2010 As far as I know, they weren't bailed out by the tax payer, their pre-recession prudance has allowed them to prosper from other banks failings and they've repositioned themselves to get the most out of the current climate. Exactly as HSBC have done. From my perspective, fair play to them and they can pay their staff all the money they want. It's also worth remembering that these profits will also have taken into account all the capital restructuring they were forced to do by changes to banking regulation - including increasing their Tier 1 Capital Ratio. The banks pay tax on their profits and the employees pay tax on their bonuses. That is probably good news for the Exchequer at the moment when many are just taking it out. Link to comment Share on other sites More sharing options...
SimpyTimpy Posted April 30, 2010 Share Posted April 30, 2010 The banks pay tax on their profits and the employees pay tax on their bonuses. That is probably good news for the Exchequer at the moment when many are just taking it out. Couldn't agree more - the more the bankers are paid in bonuses, the more money the government receives in tax receipts. The money could easily have left the country (read: economy) into developing nations had it not been spent on bonuses. Link to comment Share on other sites More sharing options...
SimpyTimpy Posted April 30, 2010 Share Posted April 30, 2010 The banks pay tax on their profits and the employees pay tax on their bonuses. That is probably good news for the Exchequer at the moment when many are just taking it out. Couldn't agree more - the more the bankers are paid in bonuses, the more money the government receives in tax receipts. The money could easily have left the country (read: economy) into developing nations had it not been spent on bonuses. Link to comment Share on other sites More sharing options...
Treatment Posted April 30, 2010 Share Posted April 30, 2010 Couldn't agree more - the more the bankers are paid in bonuses, the more money the government receives in tax receipts. The money could easily have left the country (read: economy) into developing nations had it not been spent on bonuses. Is this called Positive Reinforcement ? Link to comment Share on other sites More sharing options...
splodgeyAl Posted April 30, 2010 Share Posted April 30, 2010 Recessions are great if you are rich. Think of it as a car boot sale of businesses and other assets to snap up on the cheap Link to comment Share on other sites More sharing options...
JFKvsNixon Posted April 30, 2010 Share Posted April 30, 2010 yup in a year................during a year thats been in recession, Barclays have apparently upped their profits by 47% sounds dodgy to me I think that the 47% increase says a lot about last years banking results, the results are a lot lower than the market thought that they would be and as such Barclay's shares have dropped. http://news.bbc.co.uk/1/hi/business/10092848.stm Link to comment Share on other sites More sharing options...
grgrsmth Posted April 30, 2010 Share Posted April 30, 2010 However they were one of the few banks who didn't sponge off the tax payer. That's only because they borrowed loads. It's been rumoured that they fund child soldiers in Africa, and they didn't want the government to open their books. So if your money's in Barclays, it'll either be going to shoot a kid, or pay back Saudi Arabia. Link to comment Share on other sites More sharing options...
splodgeyAl Posted April 30, 2010 Share Posted April 30, 2010 The banks pay tax on their profits and the employees pay tax on their bonuses. That is probably good news for the Exchequer at the moment when many are just taking it out. Except Barclays are well know tax avoiders Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted April 30, 2010 Share Posted April 30, 2010 Except Barclays are well know tax avoiders Tax avoidance is legal, tax evasion is illegal. If Barclays - and many others - are avoiding paying taxes and the government want them to pay taxes, who do the government not change the law to make them liable to pay taxes? Could it be that the government are incompetent? - Surely not! Link to comment Share on other sites More sharing options...
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