BANKERS' BONUSES

Motion Text

That this House is appalled that by the end of 2014 bankers' bonuses are likely to have reached £80 billion since the financial crisis 2008; points out that this is more than £1,000 for every man, woman and child in the country and more than three times the £20 billion in revenue HM Revenue and Customs collected from the banks in corporation tax, the bank levy and the bonus tax combined in the same period; notes that the bailed-out and state-controlled banks intend to make massive bonuses apparently with impunity and without any restraint from the Government; and concludes that not only is the state-supported financial sector a national scandal but the City's age of affluence continues regardless while the overwhelming majority of the country suffers unprecedented austerity.