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Bankers' Windfall Tax supported in open letter to The Guardian

Monday, December 14 2009
Tags:
banking | economy | high pay

On Saturday The Guardian published an open letter from key figures on the centre-left supporting the government on its decision to impose a windfall tax on banker's bonuses and furthermore calling on the government to urgently establish a High Pay Commission.


Read the letter
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Posted by Jon Teunon 
on 14 December 2009, 3:42:44 PM
'Let's not forget that it was the bankers who wrecked the economy in the first place and that we face a budget deficit that they significantly helped create – not least in part by the banks bailout. Let's not forget too that despite the bailout, before the PBR, banks planned bumper bonuses forecast to rise 50% to £6bn. It's in this context we feel the government deserves support...'

Yes but let's also not forget that they were able to wreck the economy because their actions were fully supported by an incompetent and right wing government - who placed markets and profits above all other values
for over a decade!

And while the ineffectual response in the PBR - makes the Bankers' cry of
'persecution' even more contemptible than it would have been - it doesn't
obscure - let alone excuse the point that Darling/Brown's action are far too little and too late.

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