Bank bonuses (From The Northern Echo)

Bank bonuses

6:08pm Friday 3rd February 2012 in Letters

DAVID CAMERON and George Osborne have both applied their inestimable intellects to the British constitution and concluded that in regard to RBS bankers’ bonuses the Tories are bound by the previous Government’s contractual arrangements.

So, despite owning RBS, they could not interfere with excessive pay other than by way of pathetically pleading with the chief executive to turn it down.

Fair enough. A contract should be honoured.

I trust that the imposition of new arrangements relating to public sector pensions, in contradiction of previous contractual agreements with the Labour government, will now be withdrawn on the same grounds.

Also, will all welfare benefits reductions and caps be cancelled to restore the previous contractual position?

Or are we to believe that we are all in this together, a part, that is, from super rich bankers.

Rob Meggs, Hartlepool.

FRED Goodwin has justifiably been stripped of his knighthood.

However, given that most people cannot decide whether it was the bankers gambling on the world’s stock exchanges or the Labour government’s mismanagement of the economy that led to the mess we are now in, just as Mr Goodwin has lost his title it is now imperative that the Queen never awards any form of title to former UK Prime Minister Gordon Brown.

He is either fully or at least half to blame for the current harsh austerity measures, job losses and cut backs.

Mark Anderson, Middleton St George.