BANKERS' BONUSES

Motion Text

That this House believes that the Government's cosseting of the country's greedy bankers is damaging not only to the national interest but international standing; condemns the lack of hands-on control of the RBS-owned 82 per cent by the taxpayers; notes that the banks' executives brushed aside their state shareholder and paid themselves £600 million while posting a loss of £5 billion; further notes that loss-making Lloyds dipped into its till and gave senior staff an extra £365 million; points out that money-laundering HSBC announced 78 of its London executives would take home more than £1 million each; remembers that an estimated £500 billion has been pumped into the banks by taxpayers; commends actions in other European countries and at the EU where measures are being introduced to curb excessive bonuses; further believes that this Coalition administration packed with millionaires has no will to introduce proper governance of the banking sector; and concludes that never in British economic history has so much money been wasted on so hopeless a cause.