I don’t know about you, but I’ve got difficulty with the bankers – who’ve just wrecked the world economy – getting bonuses! A lot of people would like them sent to Haiti. The bonuses that is – what good’s a banker to an earthquake? Billy Bragg’s idea is a start: limit the (huge) bonuses to the national wage…
Greens want a top-rate Bankers’ Bonuses Tax AND a bid to break up the big banks.
I support Billy Bragg’s call for bankers’ bonuses to be limited to a maximum of £25,000. This is the average national wage, and we’re paying their bonuses! And this should be a first step, and we will propose to the next government that state-owned banks don’t pay bonuses at all.
These banks are being propped up by the taxpayer. Limit the bonuses that are paid to employees of any wholly or partly state-owned banks to a maximum of £25,000.
Let’s remember that we’re talking about a bonus on top of their wages, and they’re actually very well paid. £25,000 is almost the national average wage, and a lot of people work very hard for a whole year for £25,000 – or less. No banker should claim they deserve such a bonus on top of their wages.
If I’m elected to parliament in the coming general election, I shall fight hard for a fairer economy and to reduce inequality in Britain. I will fight against the culture of big bonuses for bankers.
The treasury would take a slice of the total bonuses to be paid out. It should also be taken at source, so the bank itself pays the tax. Of course the recipient of the bonus would then pay tax on the bonus as income as well.
And this Bankers’ Bonus Tax should be set at the top rate.
Greens also have proposals to break-up big banks into smaller enterprises so they are more responsive and accountable to the communities they serve.
We also support the campaign for a Robin Hood Tax – where all financial transactions between banks and financial institutions are subject to a small tax. Ideally the tax could help stop the excesses of casino-type dealing. But even at a very low rate (0.05%) it would help claw back for the people significant amounts. At the moment there is no such tax.
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