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2008-11-01 - 13:07:00 - by AlisonW - Topic: UK-Politics: LibDem |

The Guardian is reporting that the Royal Bank of Scotland, having received £20 billion from the UK tax-payer, has set aside £1.79 billion to pay six months' worth of "discretionary" and other bonuses to staff in its investment banking division.

That's the same staff who required a £5.9 billion write-down of the Bank's profits.

Vince Cable (LibDem shadow Chancellor) has noted that "The government said they would attach strict conditions on bonuses and it is very clear they are doing nothing of the kind … The banks are just making complete monkeys of them."

In my humble opinion, Vince is the best UK Chancellor we haven't had – yet. You have your opportunity to elect him at the next General Election though!



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