No Claims Bonus Percentage
Bankers Bonuses Again
Bank profits are evidently rolling in again. And notwithstanding calls for restraint, the fat cat bankers are yet again set to pay themselves huge bonuses. The government seem totally toothless in this regard. Despite our Business Secretary, Vince Cable’s frequent vocal opposition and coalition promises of ‘robust action,’ the bonuses are only fractionally down on last year.
Bob Diamond, Barclay’s Chief Executive, has said that the “period of remorse and apology should be over”; - or ‘OK, we screwed up but we would now like you forget about that.’ He also told MPs that he had not been asked directly by any Minister to moderate his own bonus. Instead he apparently discussed the matter of his bonus with his family, who clearly agreed that it would be appropriate to pay himself about £9million. But I suppose you have to feel for the poor guy, I mean he has taken a pay cut from his days in the bank’s investment operation where he used to trouser upward of £20million a year, so he must be feeling the pinch.
It is really difficult to put this into perspective, but as a middle manager in the IT industry I was, until recently, earning about £50,000 a year. So it would have taken me about 180 years to make £9million (and remember that’s just his bonus!).
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