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Haro on bonuses in the City of London

London

The Conservatives have hit hard. Visiting at Thomson Reuters in Canary Wharf – the other lung financial London with the City – George Osborne, the rising star of the party presented its plan for the bonus. The finance minister's shadow cabinet, David Cameron, who did not 40 years, called the Treasury and the FSA, Constable of the British Stock Exchange, "to unite their forces to ensure that banks stop squandering their profits in huge bonus. " The highest paid bankers, including those with premium "six figures," Osborne says the BBC, should receive as 2 000 pounds maximum (less than 2 200 euros) in cash, the rest would be paid in shares.In the crosshairs, the British retail banks Lloyds, RBS, HSBC and Barclays, as well as their investment subsidiaries.

This proposal is intended to boost lending, while, according to George Osborne, the credit crunch is still raging in Britain "starved of credit and confidence". The initiative, temporary, could free him by 20 billion pounds for the trade or consumers.

The measure goes much further than those taken at G20 Pittsburgh last month, calling to pay only half the bonus tracks because, for the voice of Tory finances, "we can not expect a culture more responsible bonuses into place by itself. We must take urgent action. " The Conservatives took the example of the United States, where new policies of the Obama administration will lead to a reduction of 90% bonuses to employees the best paid."America works. Britain today does not, "Osborne Assen.

Labor has taxed George Osborne of hypocrisy. "The Conservatives have fought against all the plans that were put in place to support business and jobs," said Liam Byrne, secretary of the Treasury. "We have already introduced more stringent regulation in the world, says the Labor Party. We have not banned short bonuses in retail banking because it's impossible, but we are in talks with RBS and Lloyds about bonuses in 2009. The conservative discourse has also aroused the indignation of retail banks , who argue that "the culture of big bonuses is rather that of investment banks.

The United States as an example

The offensive conservative times, however timely.Last week, the CEBR Institute reported that in 2009 the bonus should be around 6 billion pounds in Britain, an increase of 50% compared to 2008. And on Monday, an IDS study found that if the bonus bosses 2008-2009, the largest UK listed companies have fallen by one third, increasing their salary has almost offset the decline. Two studies that provoke anger from the British while the macroeconomic data are poor, as evidenced by the contraction of GDP in the third quarter. At 8 months of a national election, the Tories have tried to show they had a plan of action to propose.

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