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Scunnered

Ukfi Boss Says It Limited Cuts To Rbs Bankers' Bonuses

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UK Financial Investments, the Treasury unit that manages the government's stakes in RBS and Lloyds, says it softened government plans for sharp cuts in bonuses at both banks.

Robin Budenberg, chairman of UKFI, told MPs that Chancellor George Osborne had proposed reductions that exceeded what was "commercially acceptable".

As a result, UKFI had limited the extent of the cuts, he said.

[continues...]

http://www.bbc.co.uk/news/business-24909394

So they just ignored the Chancellor of the Exchequer's proposals for remuneration at a taxpayer-owned business and went ahead as usual? Lovely! I'm sure it was ultimately in Joe Public's best interest though.

Edited by Scunnered

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http://www.bbc.co.uk/news/business-24909394

So they just ignored the Chancellor of the Exchequer's proposals for remuneration at a taxpayer-owned business and went ahead as usual? Lovely! I'm sure it was ultimately in Joe Public's best interest though.

This smells like one of those stories where we are led to believe Gidiot did his very best to save the tax payer some money but it was beyond his remit.

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I don't care how much the bankers get paid as they will only spend it on rent or property inside London. It's not like they will benefit that much - not that it makes it ok, just saying that they will still be living in a shitty damp and cold £10m Victorian terrace, but it will be close to work for them.

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I don't care how much the bankers get paid as they will only spend it on rent or property inside London. It's not like they will benefit that much - not that it makes it ok, just saying that they will still be living in a shitty damp and cold £10m Victorian terrace, but it will be close to work for them.

The only damp and cold Victorian property the majority should be anywhere near is Wormwood scrubs.

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