I read in the Financial Times today that Barclays is threatening to leave the UK if the tough measures proposed by the Vickers Commission about big banks being made to ringfence core high street operations from the rest of their business are implemented.
Barclays may not actually have taken government hand-outs in the last recession, but without the handouts from the British taxpayer to its fellow banks it too would have gone down the tubes. But did this cause them to hesitate when deciding how much to pay in bonuses? Did it hell. This year they paid out £2.7 BILLION in bonuses - nearly half of their profits. I am surprised shareholders take it!
Now I accept that some tax is paid on this. But I will bet my bottom dollar that not a single big bonus winner pays anything like full PAYE - I have no doubt at all that Barclays hire a raft of tax lawyers to help find ways of avoiding tax for their "big swinging dick(head)s"
Well, this wise old woman (a customer of Barclays) says sod off Barclays; we will not be blackmailed by you. If you want out we want you out. We will close down our accounts, and you will lose a huge income stream as well as you reputation in this country.
Barclays may not actually have taken government hand-outs in the last recession, but without the handouts from the British taxpayer to its fellow banks it too would have gone down the tubes. But did this cause them to hesitate when deciding how much to pay in bonuses? Did it hell. This year they paid out £2.7 BILLION in bonuses - nearly half of their profits. I am surprised shareholders take it!
Now I accept that some tax is paid on this. But I will bet my bottom dollar that not a single big bonus winner pays anything like full PAYE - I have no doubt at all that Barclays hire a raft of tax lawyers to help find ways of avoiding tax for their "big swinging dick(head)s"
Well, this wise old woman (a customer of Barclays) says sod off Barclays; we will not be blackmailed by you. If you want out we want you out. We will close down our accounts, and you will lose a huge income stream as well as you reputation in this country.
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