Re: In a bad economy, you want a bonus?
There have been several stories here in the UK, as of late, of bosses in big banks getting hefty pensions/bonuses. These run into several million pounds. While a worker is entitled to a pension scheme, I don’t understand why the RBS chief was designated so much, when employees and the country is in recession. Surely the pension scheme should have been challenged and if not challenged, it should have been in line with the current economic climate.
Live blog: Lord Myners appearing at the Treasury select committee - Times Online
Furthermore, I am glad that the RBS chiefs are being held accountable and questioned by the Government. Likewise, President Obama should also question the bonuses which are to be awarded to the AIG workers.
There are talks of increasing the taxes here in order to try and get through the recession. However, with so many people being made redundant on a daily basis, how can this vicious cycle stop? If people are made redundant and can’t find a job, they will go into the benefit system, which will again put pressure on the country’s finances.