Greybeard Posted January 11, 2011 Share Posted January 11, 2011 ...except that it isn't. That sector is being clobbered by a levy on balance sheets. Had you read the article to which you linked, you would know that. I'm sure I read somewhere that the bank levy is more than offset by the recent reduction in corporation tax - so no revenue gain. OTOH most of these bonuses will be taxed at the 50% rate so the govt. should pick up a fair amount in personal taxation from the recipients. Link to comment Share on other sites More sharing options...
Fogey Posted January 11, 2011 Share Posted January 11, 2011 Isn't the levy on the buysiness rather than the individual, so effectively its a charge to the taxpayer owned banks rather than the individuals most directly responsible for this disaster. No surprises there then. Link to comment Share on other sites More sharing options...
Obelix Posted January 11, 2011 Share Posted January 11, 2011 It's not even a surprise, I told everyone what was going to happen to the banks when Northern Rock started having problems. How did you manage that if you only joined the forum last year? Link to comment Share on other sites More sharing options...
Greybeard Posted January 11, 2011 Share Posted January 11, 2011 How did you manage that if you only joined the forum last year? Well caught ! Link to comment Share on other sites More sharing options...
Tradescanthia Posted January 11, 2011 Share Posted January 11, 2011 You dont expect Cameron and his resident idiot Clegg to do anything did you ????? Link to comment Share on other sites More sharing options...
Stan Tamudo Posted January 11, 2011 Share Posted January 11, 2011 This at a time when most people in the country are seeing real decreases in their standard of living and services to the most needy are being cut. Absolutely disgusting. Apparently personal responsibility is outmoded; you can take massive risks with money in pursuit of your own financial gain and when that goes wrong expect to be bailed out by the taxpayer AND keep getting paid huge amounts of money while the government makes everyone else pay the price. Brilliant as always TeaFan. Link to comment Share on other sites More sharing options...
melthebell Posted January 11, 2011 Share Posted January 11, 2011 surprising [/sarcasm mode off] Link to comment Share on other sites More sharing options...
HeadingNorth Posted January 11, 2011 Share Posted January 11, 2011 Isn't the levy on the buysiness rather than the individual, so effectively its a charge to the taxpayer owned banks rather than the individuals most directly responsible for this disaster. No surprises there then. The government can't influence the size of bonuses paid out by the taxpayer owned banks such as RBS - because the contract under which the government took them over, forbids it. Of course, that wouldn't be Cameron's fault. The Tories were not yet in power when that contract was signed. Link to comment Share on other sites More sharing options...
andygardener Posted January 11, 2011 Share Posted January 11, 2011 The government can't influence the size of bonuses paid out by the taxpayer owned banks such as RBS - because the contract under which the government took them over, forbids it. Of course, that wouldn't be Cameron's fault. The Tories were not yet in power when that contract was signed. Did labour aquire their shares in the banks with non-voting rights? If they did then that's criminal, but if they didn't then the new government can call an egm and table what motions they like as majority shareholders and push them through. Link to comment Share on other sites More sharing options...
Guest sibon Posted January 11, 2011 Share Posted January 11, 2011 The government can't influence the size of bonuses paid out by the taxpayer owned banks such as RBS - because the contract under which the government took them over, forbids it. Of course, that wouldn't be Cameron's fault. The Tories were not yet in power when that contract was signed. They can. They are the Government. They could pass any number of laws to limit the size of bonuses if they wanted to. Just as they promised. Link to comment Share on other sites More sharing options...
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