2 2 mins 9 yrs

It seems that some forms of bonus culture are OK.

Campaigners have called for the end of fat cat public sector bonuses after it was revealed that more than 100 top civil servants received payouts of £10,000 or more last year. Ten of those got more than £30,000 – including one Ministry of Defence official who received nearly £100,000 on top of his £160,000 salary. The bonus payments came as workers around the country have endured below inflation rises, with many having to put up with pay freezes, including civil servants and other public sector workers whose salaries were fixed for two years by George Osborne.

Well, I fully approve of all those pay freezes, wage cuts would have been better in some cases. But to be lavishing such huge bonus payments on the top tier of the Civil Service is grotesque.  Bankers who do not deliver value for shareholders should not get bonus payments and the same principle MUST be applied to those who surround government. Is anyone seriously suggesting that those in receipt of these vast sums have made a demonstrable improvement to our lives?

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2 thoughts on “BONUS CULTURE

  1. It’s large-scale theft, simple as that.

    “Is anyone seriously suggesting that those in receipt of these vast sums have made a demonstrable improvement to our lives?”

    Each civil service strike demonstrates that most of them could be sacked and that the only effect on everyone else would be a slightly heavier pay packet.

  2. Is anyone seriously suggesting that those in receipt of these vast sums have made a demonstrable improvement to our lives?

    Here are some real “vast sums” which don’t seem to be discussed any more in the MSM afte ran initial flurry of interest. Clearly those who own the MSM are featured hereafter. These are the people who George Carlin said are our owners whilst those mentioned in the article are merely their serfs:

    http://tjn-usa.org/

    Open the file The Price of Offshore Revisited:

    p5 – A significant fraction of global private financial wealth — by our estimates, at least $21 to $32 trillion as of 2010 — has been invested virtually tax-free through the world’s still-expanding black hole of more than 80 “offshore” secrecy jurisdictions. We believe this range to be conservative, for reasons discussed below.

    p26 – Another reference point is Credit Suisse’s global wealth estimate for mid-year 2011, which is probably the most comprehensive and most recent estimate of global wealth. It puts total global wealth at $231 trillion, including financial assets and non-financial assets (principally housing and land) at market value . Credit Suisse does not offer a figure for offshore holdings but the ratio of this $231 trillion figure to TJN’s $21-32 trillion figure headlined above is roughly 1:10, supporting our view that our new estimates are reasonable and conservative.

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