The UK taxpayer owns 84% of RBS after the government bailed out the bank at the end of 2008.
Since you and I own this Bank, I am making my unequivocal objection to the continuing intolerable bonus payments. I suggest you do so too in the strongest terms you can. I am writing to the PM.
But what had Gordon Brwon done for us?
GB [Great Britain & not Gordon Brown] PLC’s economic performance since since
Gordon Brown’s first Budget in March 1998, despite all the spin of being immune to Global fluctuations, has been dismal.
Whichever indicator you look at points to disastrous 12 years says Jeff Randall in the Daily Telegraph.
- Sterling is 27% lower against Euro
- The FTSE 100 is down 12% – the worst performance of any major market save Japan
- Our Budget Deficit is higher than Greece’s at 13.3%
- Unemployment has risen from 6.3% to 7.8%
- Monetary Policy Rules have been ripped up with the printing of £200bn to pump into the ailing economy
So to sum up the Gordon Brown years:
- Sterling is in the toilet
- Pensions have been slaughtered
- Cash yields almost nothing
- GB PLC is up to its neck in unprecedented debt and
- The Banking System is awash with funny money and finally
- Brown sold also off our Gold for next to nothing.
Apart from all that, “it’s not too bad”.