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Fri 27th January
Mr Durkan said: “In the current circumstances this bonus should be seen as an obscenity.
“Such a gross payment on top of a hefty salary will be resented by hard-pressed taxpayers who have had to bail out this bank.
“It is also a gratuitous and grievous insult to those staff in the RBS group who are seeing their jobs cut or their modest pay capped.
“The British government looked for a fanfare this week when they said they wanted to move to restrain excessive Executive remuneration. Those limited measures announced by Vince Cable centred on having more active and responsible shareholder say in such high pay issues.
“But this same government is meant to act for the taxpayer shareholder now holding 82% of this bank.
“This laissez-faire attitude seems to be saying ‘Fair enough, take what you can’.
It is the wrong message from government to this bank and this banker, to the corporate world at a time when Executive pay restraint is needed, and to the public who have to underwrite this bank after its follies, excesses and inadequate performance.
“Mr Hester told the Treasury Select Committee last year that his mother thinks he is too well-paid.
“The Prime Minister and the Chancellor should apply her common sense and serve the common interest of the conscripted shareholding public.
“Putting manners on bankers while covering banks to recovery should involve the simple rubric “Bailout? Bonuses out!”
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