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Tuesday, July 19, 2011

Those golden goodbyes

Labour have been pretty vitriolic about the remuneration and bonuses received by the bankers in the light of banking crisis and the huge sums of public money that have had to be invested in financial institutions so as to keep them and the economy afloat. In doing so they have been reflecting the public mood, which is why the Government moved to tax the banks to the tune of £10 million over the next four years.

Strangely though there has not been the same level of fuss from the brothers and sisters regarding another pay-off scandal, namely the golden goodbye payment to Derek Simpson, the leader of Britain's largest trade union, Unite, amounting to more than £500,000 last year, including a £361,000 severance payment.

The fact that Labour received a £1 million donation from Unite during the 2010 General Election is completely unrelated to the relative silence from the offical opposition over this golden goodbye.
Hang on!! Whatever Derek Simpson's failings, the rights and wrongs of this payment or his union's relationship with Labour, he wasn't in any way responsible for bringing about the greatest economic collapse snce the great depression. The bankers were, at least in part. I think conflating the two things is unfair.
Who was on watch did this economic collapse occured??
Hang on to what? To the fact that it was actually Labour's policies that allowed the banks to act in the way they did? It is a bit much for Labour now to highlight the banks actions which were, sanctioned or at least allowed by the then Labour government. Led by that financial wizard Brown.
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