Another truss policy that rishi is copying.
I think we are now at 5.
Bankers bonuses to be scrapped.
Remember the disaster budget thay got her replaced.
It looks like rishis copy pasting it to win back conservative votes.
Almost laughable at this stage.
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"Another truss policy that rishi is copying.
I think we are now at 5.
Bankers bonuses to be scrapped.
Remember the disaster budget thay got her replaced.
It looks like rishis copy pasting it to win back conservative votes.
Almost laughable at this stage.
"
Surely you aren't suggesting that we are getting Truss by stealth? Pmsl |
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By (user no longer on site) 28 weeks ago
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"Another truss policy that rishi is copying.
I think we are now at 5.
Bankers bonuses to be scrapped.
Remember the disaster budget thay got her replaced.
It looks like rishis copy pasting it to win back conservative votes.
Almost laughable at this stage.
"
Watch him say it, but not do it |
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By *ercuryMan 28 weeks ago
Grantham |
"Another truss policy that rishi is copying.
I think we are now at 5.
Bankers bonuses to be scrapped.
Remember the disaster budget thay got her replaced.
It looks like rishis copy pasting it to win back conservative votes.
Almost laughable at this stage.
"
Kwarsi Kwartang proposed it.
The banking regulators have just approved it.
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"Another truss policy that rishi is copying.
I think we are now at 5.
Bankers bonuses to be scrapped.
Remember the disaster budget thay got her replaced.
It looks like rishis copy pasting it to win back conservative votes.
Almost laughable at this stage.
"
I read a bit on that too. Apparently not having or limiting bonuses meant the banks had to raise basic salaries a lot higher to attract the best staff making the banks uncompetitive to those in the U.S. or Asia. When people who are on decent wage get big bonuses it does stick in the throat a bit but I get their reasoning. Just hope it does not lead to a crash with individuals gambling to chase a big pay out |
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By *irldnCouple 28 weeks ago
Brighton |
"Another truss policy that rishi is copying.
I think we are now at 5.
Bankers bonuses to be scrapped.
Remember the disaster budget thay got her replaced.
It looks like rishis copy pasting it to win back conservative votes.
Almost laughable at this stage.
I read a bit on that too. Apparently not having or limiting bonuses meant the banks had to raise basic salaries a lot higher to attract the best staff making the banks uncompetitive to those in the U.S. or Asia. When people who are on decent wage get big bonuses it does stick in the throat a bit but I get their reasoning. Just hope it does not lead to a crash with individuals gambling to chase a big pay out "
Which was precisely the reason the rules were brought in the first time. |
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"Another truss policy that rishi is copying.
I think we are now at 5.
Bankers bonuses to be scrapped.
Remember the disaster budget thay got her replaced.
It looks like rishis copy pasting it to win back conservative votes.
Almost laughable at this stage.
I read a bit on that too. Apparently not having or limiting bonuses meant the banks had to raise basic salaries a lot higher to attract the best staff making the banks uncompetitive to those in the U.S. or Asia. When people who are on decent wage get big bonuses it does stick in the throat a bit but I get their reasoning. Just hope it does not lead to a crash with individuals gambling to chase a big pay out
Which was precisely the reason the rules were brought in the first time. "
That's my understanding too though I don't know if this was the only change implemented to stop a repeat performance. I would hope there are other changes that help as well but that is just a hope |
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By (user no longer on site) 28 weeks ago
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"Another truss policy that rishi is copying.
I think we are now at 5.
Bankers bonuses to be scrapped.
Remember the disaster budget thay got her replaced.
It looks like rishis copy pasting it to win back conservative votes.
Almost laughable at this stage.
"
Frankly I’d rather bankers get bonuses than the taxpayer having to fund bonuses for civil servants given the crap service the public sector provides. |
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By *irldnCouple 28 weeks ago
Brighton |
Something I cannot square in my head... for months the Govt rhetoric has been “we need pay restraint” and criticism of normal workers demanding better pay rises. The Govt and BoE point to increases in pay driving inflation. But then it is ok for a small number of already very highly paid city workers (“bankers”) to now receive unlimited bonuses.
While I know that to get around the bonus cap finance firms in UK instead upped salaries to offset bonuses and this could potentially see this reversed with lower basics and unlimited bonuses, it does send a message that “pay rises are only for the already wealthy and you plebs need to accept what you have and get back in your box”. |
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"Something I cannot square in my head... for months the Govt rhetoric has been “we need pay restraint” and criticism of normal workers demanding better pay rises. The Govt and BoE point to increases in pay driving inflation. But then it is ok for a small number of already very highly paid city workers (“bankers”) to now receive unlimited bonuses.
While I know that to get around the bonus cap finance firms in UK instead upped salaries to offset bonuses and this could potentially see this reversed with lower basics and unlimited bonuses, it does send a message that “pay rises are only for the already wealthy and you plebs need to accept what you have and get back in your box”."
Paybrises aren't bonuses.
They shouldn't be conflated.
Bonuses are removed from pay rise calculations for this reason
I am in the middle of the 2. I think people have the right to earn a large bonus. But I think theblaws need tk change.
I've seen things happen first hand where people alter their decision tk achieve a bonus that year rather than thing of the long term plan for the company.
I think bonuses should be held in an escrow for 3 years before being released. Of the company fails withing 3 years kf youe arning tbay bonus. You don't get jt paid out. Because clearly your and other managers decisions didn't improve the trading of the entity. |
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By *irldnCouple 28 weeks ago
Brighton |
"Something I cannot square in my head... for months the Govt rhetoric has been “we need pay restraint” and criticism of normal workers demanding better pay rises. The Govt and BoE point to increases in pay driving inflation. But then it is ok for a small number of already very highly paid city workers (“bankers”) to now receive unlimited bonuses.
While I know that to get around the bonus cap finance firms in UK instead upped salaries to offset bonuses and this could potentially see this reversed with lower basics and unlimited bonuses, it does send a message that “pay rises are only for the already wealthy and you plebs need to accept what you have and get back in your box”.
Paybrises aren't bonuses.
They shouldn't be conflated.
Bonuses are removed from pay rise calculations for this reason
I am in the middle of the 2. I think people have the right to earn a large bonus. But I think theblaws need tk change.
I've seen things happen first hand where people alter their decision tk achieve a bonus that year rather than thing of the long term plan for the company.
I think bonuses should be held in an escrow for 3 years before being released. Of the company fails withing 3 years kf youe arning tbay bonus. You don't get jt paid out. Because clearly your and other managers decisions didn't improve the trading of the entity."
Oh I know salary and bonus is not the same but let’s be honest, in the city the bonus is considered a cornerstone of the remuneration package (plenty of my friends work or worked in the city in various roles). It was a way of financial institutions keeping salaries more “modest” and incentivising hard work (or risk taking gambling).
It still seems a counter-intuitive policy to remove the cap while telling ordinary workers you are being greedy.
Totally agree on other point inc escrow. That would, in theory, encourage more sensible levels of risk taking. |
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