Friday, 28 August 2009

Letter to The Times (not published)


You dismissal of calls for a High Pay Commission as “monumentally foolish” is unfair. One of the main causes of the financial crisis and recession was the behaviour of rich bankers whose pay and bonus packages incentivised their reckless behaviour. Those responsible in the financial sector have not suffered in any meaningful way, largely thanks to the injection of taxpayers’ money. Rather, ordinary, hard-working individuals, through no fault of their own are losing their jobs, businesses and homes. As such, calls for a High Pay Commission are rather tame in the circumstances.

Imagine if even a fraction of the damage caused recently by bankers had instead been caused by trade unions, organised criminal syndicates or terrorists and that the rich, rather then the poor had been unjustly disadvantaged. I doubt that their political defenders on the right, and the vast bulk of the press would have shown such restraint as to have merely called for the establishment of a commission. I suspect at the very least that punitive emergency laws would have been passed and the very most, a coup d'état enacted, such would have been the outrage.

Yours faithfully,

John Slinger