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Osborne defends the indefensible on bankers' bonuses PDF Print E-mail
Written by John Boardman   
Wednesday, 06 March 2013 11:49

I was pleased to read the rapid response from Len McCluskey, the General Secretary of Unite the union, to George Osborne’s grotesque position of defending the indefensible (Tuesday 5 March) by telling EU finance ministers in Brussels that he could not support proposals to limit bankers' bonuses to a year's salary.

Unite general secretary Len McCluskey said: "George Osborne is defending the indefensible by opposing a cap on bankers' bonuses. Britain needs a chancellor who will fight for our public services, not for a tiny elite with telephone number salaries. The chancellor is happy to cap the welfare payments of those struggling to get by, but not the bonuses of the casino bankers who caused the economic crisis. 

"Along with Ukip the Tory-led government is alone in Europe in opposing a cap on bankers' bonuses, even the Swiss in a referendum supported curbing bonuses.

"The chancellor is on the wrong side of every argument and out-of-touch with the people of this country. From April millionaires will get a £40,000 tax cut while record numbers of young people are unemployed and our economy flatlines. Britain desperately needs a new chancellor with some radical fresh thinking who will do more than just help his chums in the city while millions struggle to make ends meet." 


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