Government vetos the RBS bonus

[Zeppo]

No sympathy for high earners in banks getting no bonuses. However, don't know how far bonuses are used in the public sector. Certainly widely used in the Civil Service - especially for those high on the hog in the Senior Civil Service.

I can see Brown making a play for no bonuses in the public sector and maybe a public sector wage freeze. This will not go down well - in the Civil Service for some years there have been below inflation pay deals. A pay freeze makes no sense but this is New Labour.

 

[where to]

Tight spot?

Do you have sympathy for people that were earning 25k+ and borrowed beyond their means? Or just people that used to work for RBS or what??

I bet you have no sympathy for higher earners that done exactly the same silly things (borrowing more than they really should)... It's the same fuck up though.

i have sympathy with people on £10K, £12K, £15K basic who try to secure some sort of long term housing solution for themselves - something i consider a basic right - and enter into a very risky mortgage deal in order to do so.

I bet you have no sympathy for higher earners that done exactly the same silly things (borrowing more than they really should)... It's the same fuck up though

its not if they were otherwise able to secure housing for themselves without having to commit to highly risky mortgage agreements.

 

[TomPaine]

There's thousands of people in lots of cities that earn 12k and can't afford the cheapest flat...

I got 13K on my first job out of Uni, after tax, NI it worked out at about 870 quid a month I think. I soon found out there was zero prospects of promotion, zero prospects of a bonus, zero prospects of a pay rise above inflation.
Fucking cunts.

 

[Kanda]

i have sympathy with people on £10K, £12K, £15K basic who try to secure some sort of long term housing solution for themselves - something i consider a basic right - and enter into a very risky mortgage deal in order to do so.



its not if they were otherwise able to secure housing for themselves without having to commit to highly risky mortgage agreements.

Doesn't matter what you earn, you should be able to secure some sort of long term housing solution. Problem is, most of the time you can't unless it's private renting or something similar. Still doesn't excuse someone entering risky mortgage deals. Nobody HAS to own a home.

 

[GarfieldLeChat]

well this will be a death knell for banking in the uk we might as well hand it all over to the next emerging power which passes. it also now gives cart blanche for companies up and down the country to stop bonues which people have earned (note money they have aready worked hard for and been deffered til the end of the financal year) and another way for the majority to be affected by the minority.

I'd expect this to have an impact every where as if the govtment can change the contract terms of you employment without negotiation then what hope do others have.

if only the news papers had kept up with their mortage repayments eh? them this wouldn't have happened. it serves the neo con agenda perfectly however...

 

[ivebeenhigh]

I'd expect this to have an impact every where as if the govtment can change the contract terms of you employment without negotiation then what hope do others have.

.

They aren't changing anyone's terms of employment, all bonuses that are contractually obligated are being paid out.

Discretionary bonuses are not being paid out in some cases.

 

[Kanda]

It seems the full 950 mill are gonna be paid, just deferred:

http://www.ft.com/cms/s/0/81d2f4b8-fd08-11dd-a103-000077b07658.html?nclick_check=1

Great bit of spin by Darling!!