Thoughts on politics and life from a liberal perspective

Wednesday, 21 January 2009

Northern Rock 10% Bonus!!??

I don't know how the Northern Rock management think that it can be appropriate to give their staff a 10% bonus.

I know that it is not the ordinary members of staff who are to blame for the problems but everyone is having to tighten their belts at the moment. If the callers to Nicky Campbell this morning on 5 live are at all representative of the population then there are a lot of people having to take pay cuts or reduced hours or both and jobs are under threat all over the place. I run a business and we are having to be very careful about expenditure.

Northern Rock is now owned by the tax payer and it is not acceptable for largesse like this to be thrown about. I am please to see Vince Cable has come out strongly against it too.

Even if a 10% bonus was a standard part of the package previously, the world has changed and the management of Northern Rock need to recognise this. Quickly.

*Edit - Iain Dale has posted a very similar view to mine here.

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