INVESTMENT BANK BONUSES

Motion Text

That this House considers the decision of investment bank Goldman Sachs to pay £4,300,000,000 in end-of-year bonuses, an average of £142,000 per banker; notes that this demonstrates in microcosm how far out of touch the banking system is in general with the difficulties the general public and small businesses have to make ends meet in the current credit crisis; believes that the 30,000 workforce of Woolworths about to lose their jobs will not be able to understand such financial obscenity; and calls on the Government to cancel any current contracts it has placed, and not to place any further contracts with Goldman Sachs to protest at this insensitivity.