Scabbydog Posted January 12, 2011 Share Posted January 12, 2011 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. I think it was last years levi that made HSBC move its headquarters from London to Hong Kong. So not only did the government not obtain most of the levi from HSBC, but they also missed out on a massive wad of corporation tax and income tax. Link to comment Share on other sites More sharing options...
Guest sibon Posted January 12, 2011 Share Posted January 12, 2011 I think it was last years levi that made HSBC move its headquarters from London to Hong Kong. So not only did the government not obtain most of the levi from HSBC, but they also missed out on a massive wad of corporation tax and income tax. I think HSBC moved to Hong Kong, because they are the HSBC. RBS might move to Edinburgh too. Why should we care? We can tax banking activity if we like. Getting rid of the leeches from London might just have a positive effect upon the housing market. In any case there are loads of low tax economies around the world, yet the banks seem to want to be in London. Now, why is that? Link to comment Share on other sites More sharing options...
I1L2T3 Posted January 12, 2011 Share Posted January 12, 2011 Not a surprise. Nothing the LibDems talked about before the election will happen and they, especially Vince, were the ones talking the most sense. The LibDems within the coalition will prove to be completely ineffective in: 1. Splitting the banks into retail and investment branches 2. Breaking the bigger banks up 3. Increasing accountability of the banks 4. Introducing effective regulation 5. Effectively taxing the banks activities 6. Forcing restraint in pay/bonuses They promised all of this. The coalition talked tough too. Then they caved in. And they caved in over the most critical issue for society and the economy as a whole because this is the green light for further reckless speculative activity from the banks, the same type of activity that nearly sunk us in the first place. Massive opportunity for the LibDems though. If they've got any ******** they will be working very hard to publicly oppose this. They will gain some respect if they do because make no mistake this will be the single biggest reference issue this year - everything that happens, every protest will be framed in terms of what bankers are getting. Big chance for the Lib Dems. But they will blow it because they want the AV referendum through first. Link to comment Share on other sites More sharing options...
Anna B Posted January 12, 2011 Share Posted January 12, 2011 Good grief, you honestly expected a politician to carry out a pledge did you? Unless of course that pledge was to screw the public and line their own pockets I'm old enough to remember when politicians did keep their word, and would resign as a matter of honour if they couldn't. But that was in the day when politicians had the best interests of their country and its people at heart. Now we have a bunch of self-serving, arrogant, incompetant, robber barons who care only for their own agrandisement and the size of their bulging wallets. They (all parties) have destroyed this country and its way of life through a mixture of sharp practice and out and out bungling, and a willingness to put their friends and cronies first. The list of mistakes and bad decisions made over the last 30years have been catastrophic for this country and now we are left almost bankrupt. To add insult to injury we are told it's 'our fault' and that we must 'all pull together' to get us out of this mess. Worst of all they are virtually unaccountable and can get away with whatever they like, knowing that a fat cushy job awaits them, probably in the banking industry that they have so generously supported with our money, should they be voted out of office. That and the most generous of pensions which they have taken great care to protect, when everyone else is having theirs cut. We deserve better. Link to comment Share on other sites More sharing options...
Obelix Posted January 12, 2011 Share Posted January 12, 2011 Well caught ! He's gone very quiet.... So who is Mecky the sockpuppet for? Link to comment Share on other sites More sharing options...
Keith Rich Posted January 12, 2011 Share Posted January 12, 2011 I'm old enough to remember when politicians did keep their word, and would resign as a matter of honour if they couldn't. But that was in the day when politicians had the best interests of their country and its people at heart. Now we have a bunch of self-serving, arrogant, incompetant, robber barons who care only for their own agrandisement and the size of their bulging wallets. They (all parties) have destroyed this country and its way of life through a mixture of sharp practice and out and out bungling, and a willingness to put their friends and cronies first. The list of mistakes and bad decisions made over the last 30years have been catastrophic for this country and now we are left almost bankrupt. To add insult to injury we are told it's 'our fault' and that we must 'all pull together' to get us out of this mess. Worst of all they are virtually unaccountable and can get away with whatever they like, knowing that a fat cushy job awaits them, probably in the banking industry that they have so generously supported with our money, should they be voted out of office. That and the most generous of pensions which they have taken great care to protect, when everyone else is having theirs cut. We deserve better. Well said, and so very very true. :thumbsup: Link to comment Share on other sites More sharing options...
mj.scuba Posted January 12, 2011 Share Posted January 12, 2011 It's a more complex issue than on the face of it. I don't think any of the banks that have recieved any taxpayer bailout should be paying big bonuses, but as for the other banks that we have not had to bailout, how can we or the government dictate to a private company how they pay their staff? Certainly something needs to be done though to prevent the excessive risk taking, what happened to the thing about rewards linked to long term growth? Another part of me thinks if a guy (or gal) manages to make £30m profit for their bank by making good investments that have borne fruit, then paying them a £2m bonus out of that £30m ain't such a bad deal with the bank still being £28m quids in. Link to comment Share on other sites More sharing options...
Keith Rich Posted January 13, 2011 Share Posted January 13, 2011 It's a more complex issue than on the face of it. I don't think any of the banks that have recieved any taxpayer bailout should be paying big bonuses, but as for the other banks that we have not had to bailout, how can we or the government dictate to a private company how they pay their staff? Certainly something needs to be done though to prevent the excessive risk taking, what happened to the thing about rewards linked to long term growth? Another part of me thinks if a guy (or gal) manages to make £30m profit for their bank by making good investments that have borne fruit, then paying them a £2m bonus out of that £30m ain't such a bad deal with the bank still being £28m quids in. If it were up to me I would say no bonuses whatsoever and salaries cut by a half. If they don't like it then they can go and get another job that may be more suitable to their skills...such as road sweeping. We can then employ decent people in the banks who are actually interested in the job and not just out to line their own pockets. Link to comment Share on other sites More sharing options...
Obelix Posted January 13, 2011 Share Posted January 13, 2011 He's gone very quiet.... So who is Mecky the sockpuppet for? Well Mecky...? Link to comment Share on other sites More sharing options...
Tradescanthia Posted January 13, 2011 Share Posted January 13, 2011 If it were up to me I would say no bonuses whatsoever and salaries cut by a half. If they don't like it then they can go and get another job that may be more suitable to their skills...such as road sweeping. We can then employ decent people in the banks who are actually interested in the job and not just out to line their own pockets. The useless lot in the banks wouldn't know one end of a sweeping brush from the other. Please dont insult roadsweepers, they do an essential service. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.