Politics

[bolty58]

8 hours ago, stevieb said:

Which one is DazBob? 

The fat one.

[bolty58]

22 hours ago, Traf said:

Thank you sir. West Hams firm on the way to London Bridge.

[Cheese]

Hooray for Brexit!

https://www.lbc.co.uk/news/chancellor-seeks-to-scrap-cap-on-bankers-bonuses/

The new Chancellor is weighing up whether to remove a cap on bankers' bonuses as part of a shake-up of City rules.

Sources told the BBC and Financial Times no final decisions had been made, but added that Kwasi Kwarteng thinks such a move would make London more attractive to global banks.

Uncapped bonuses led to the excessive risk-taking that spawned the financial crisis of 2008, according to critics.

The Chancellor is understood to view the move as a way of making London more attractive to global banks. The City has long taken issue with EU-wide rules on banking bonuses that impose a cap at twice an employee’s salary.

[Sweep]

3 minutes ago, Cheese said:

Hooray for Brexit!

https://www.lbc.co.uk/news/chancellor-seeks-to-scrap-cap-on-bankers-bonuses/

The new Chancellor is weighing up whether to remove a cap on bankers' bonuses as part of a shake-up of City rules.

Sources told the BBC and Financial Times no final decisions had been made, but added that Kwasi Kwarteng thinks such a move would make London more attractive to global banks.

Uncapped bonuses led to the excessive risk-taking that spawned the financial crisis of 2008, according to critics.

The Chancellor is understood to view the move as a way of making London more attractive to global banks. The City has long taken issue with EU-wide rules on banking bonuses that impose a cap at twice an employee’s salary.

I might be in the minority here, but I've no issue with removing the cap - provided they pay the relevant/required tax on their earnings. I'm never a fan on capping any persons earning potential. 

If the cap is removed, then you would hope it would be done in line with new regulations, in order to prevent the issues of 2008 (I know that's probably asking a bit too much..)

[Farrelli]

18 minutes ago, Cheese said:

Hooray for Brexit!

https://www.lbc.co.uk/news/chancellor-seeks-to-scrap-cap-on-bankers-bonuses/

The new Chancellor is weighing up whether to remove a cap on bankers' bonuses as part of a shake-up of City rules.

Sources told the BBC and Financial Times no final decisions had been made, but added that Kwasi Kwarteng thinks such a move would make London more attractive to global banks.

Uncapped bonuses led to the excessive risk-taking that spawned the financial crisis of 2008, according to critics.

The Chancellor is understood to view the move as a way of making London more attractive to global banks. The City has long taken issue with EU-wide rules on banking bonuses that impose a cap at twice an employee’s salary.

During a cost of living crisis. Good to know where the priorities are for the new chancellor!

[Mounts Kipper]

9 minutes ago, Farrelli said:

During a cost of living crisis. Good to know where the priorities are for the new chancellor!

Do you not support encouraging banks and wealthy bankers into the UK? You know those who pay the taxes that the government use to spend on improving things for everyone.

[Farrelli]

3 minutes ago, Mounts Kipper said:

Do you not support encouraging banks and wealthy bankers into the UK? You know those who pay the taxes that the government use to spend on improving things for everyone.

If they are on £200-300k (for example) why would they need more than that in bonuses? There is a reason caps were introduced. More money needs to go to lower paid staff instead.

Edited September 15, 2022 by Farrelli

[Cheese]

14 minutes ago, Mounts Kipper said:

Do you not support encouraging banks and wealthy bankers into the UK? You know those who pay the taxes that the government use to spend on improving things for everyone.

"Those that fail to learn from history are doomed to repeat it" ~ Winston Churchill

[Mounts Kipper]

35 minutes ago, Farrelli said:

If they are on £200-300k (for example) why would they need more than that in bonuses? There is a reason caps were introduced. More money needs to go to lower paid staff instead.

Because somewhere else will pay the bonuses and the best bankers will gravitate there, thus we lose more revenue from tax.   

[Cheese]

38 minutes ago, Farrelli said:

If they are on £200-300k (for example) why would they need more than that in bonuses? There is a reason caps were introduced. More money needs to go to lower paid staff instead.

It was only a few months ago that the Government were saying pay-rises for workers would cause rocketing inflation...

[Cheese]

2 minutes ago, Mounts Kipper said:

Because somewhere else will pay the bonuses and the best bankers will gravitate there, thus we lose more revenue from tax.   

The "best bankers" will pay next to fuck all tax, otherwise they wouldn't be the "best bankers".

[Farrelli]

6 minutes ago, Mounts Kipper said:

Because somewhere else will pay the bonuses and the best bankers will gravitate there, thus we lose more revenue from tax.   

That was the thought process that lead to the financial crash in 2008. 

[mickbrown]

Aye, that's a good look, what with the cost of living crisis.

It's almost as if they don't give a fuck.

[Farrelli]

6 minutes ago, Cheese said:

It was only a few months ago that the Government were saying pay-rises for workers would cause rocketing inflation...

Indeed. Low paid rail workers offered below inflation rate pay rises and expected to work more hours were given zero sympathy by Mounts.  

[Mounts Kipper]

4 minutes ago, Farrelli said:

Indeed. Low paid rail workers offered below inflation rate pay rises and expected to work more hours were given zero sympathy by Mounts.  

I have never mentioned the rail workers.. what the fuck you on about?  

[Mounts Kipper]

6 minutes ago, mickbrown said:

Aye, that's a good look, what with the cost of living crisis.

It's almost as if they don't give a fuck.

My view is high paid staff based here in the UK is better than high paid staff working in Frankfurt, New York or Paris, what does this have to do with the cost of living crisis? Fuck all!     

[Farrelli]

10 minutes ago, Mounts Kipper said:

I have never mentioned the rail workers.. what the fuck you on about?  

Im on about how we manage the economy. Under the Tories the poor become poorer and the rich become richer.  That has to change and it won’t change by allowing bankers infinite bonus levels.

[mickbrown]

13 minutes ago, Mounts Kipper said:

My view is high paid staff based here in the UK is better than high paid staff working in Frankfurt, New York or Paris, what does this have to do with the cost of living crisis? Fuck all!     

Fuck em. Let them go. It's not like others wouldn't take their place.

Cost of living crisis? I said it's not a good look for a government. I didn't say they were linked. 

[Cheese]

20 minutes ago, Mounts Kipper said:

My view is high paid staff based here in the UK is better than high paid staff working in Frankfurt, New York or Paris

We're talking about bankers here, not scientists and engineers and surgeons.

[Farrelli]

1 minute ago, Cheese said:

We're talking about bankers here, not scientists and engineers and surgeons.

Absolutely. People who are good at maths and we have loads of youngsters in our top universities. My son has done an engineering degree at Oxford and many of his mates are going to the city not to engineering work because they can make money and are great at maths.

[Cheese]

"You know what's really holding the country back? Our bankers don't get enough pay rises!"

Edited September 15, 2022 by Cheese

[Sweep]

1 hour ago, Farrelli said:

If they are on £200-300k (for example) why would they need more than that in bonuses? There is a reason caps were introduced. More money needs to go to lower paid staff instead.

I hate this sort of argument - I presume that you're basically saying "He's already earning £300K, why does he need anymore"  -  who the fuck is anybody to say what somebody should or shouldn't earn, and how much is actually "enough" for some, £300K per year might not be enough for them.

I can't believe that we want to cap ambition and earnings. The more they ear, the more tax they pay, and bollocks to this thought that if they're that good, they won't pay any tax anyway, plenty of these high earners pay a shit load of tax. We already know that the London tax take pretty much keeps the country afloat anyway, if we can increase that, then how does that not benefit us all?

 

57 minutes ago, Mounts Kipper said:

My view is high paid staff based here in the UK is better than high paid staff working in Frankfurt, New York or Paris, what does this have to do with the cost of living crisis? Fuck all!     

I don't always agree with Mounts on this sort of subject, but he's correct with this I reckon

[Mounts Kipper]

32 minutes ago, Cheese said:

"You know what's really holding the country back? Our bankers don't get enough pay rises!"

I am for employees getting paid for the profit and wealth they create, isn't that a good thing? Whats your problem with Banker topping the list? 

[Sweep]

2 minutes ago, Mounts Kipper said:

I am for employees getting paid for the profit and wealth they create, isn't that a good thing? Whats your problem with Banker topping the list? 

jealousy

[Farrelli]

2 minutes ago, Sweep said:

I hate this sort of argument - I presume that you're basically saying "He's already earning £300K, why does he need anymore"  -  who the fuck is anybody to say what somebody should or shouldn't earn, and how much is actually "enough" for some, £300K per year might not be enough for them.

I can't believe that we want to cap ambition and earnings. The more they ear, the more tax they pay, and bollocks to this thought that if they're that good, they won't pay any tax anyway, plenty of these high earners pay a shit load of tax. We already know that the London tax take pretty much keeps the country afloat anyway, if we can increase that, then how does that not benefit us all?

 

I don't always agree with Mounts on this sort of subject, but he's correct with this I reckon

You misunderstood. What I meant was if they earn 300k then 300k bonus on top is more than enough. That is the present cap and this is appropriate in my opinion.