Wednesday, 28 October 2009

Early Day Motion on a citizen's charge on banking bonuses

These MPs are to be congratulated for arguing the case that banking bonuses must at the very least, be taxed at a higher rate in order that the banks which caused this recession, do more to pay for the damage they left in their wake. As it is, we're all having to pay the price in jobs, lost businesses, negative equity and so-on for the recklessness of those in high finance.

CITIZEN'S CHARGE ON BANK BONUSES AND DIVIDENDS 27:10:09

Jim Cousins
Jon Cruddas
Mr Michael Meacher
John McDonnell
Mr Frank Field
Frank Dobson
Kelvin Hopkins Mark Durkan Lynne Jones
Mr Lindsay Hoyle

That this House notes that almost every bank based in the United Kingdom required liquidity and other support from the Government in 2008 and, in addition, a number required public ownership or capital support; further notes public concern about the contrast between the welfare dependency of the UK financial sector and the recent return to big bonus payouts; calls on the Government to introduce a citizen's charge or people's dividend on the growth of bonus pools and dividend payouts in those financial institutions which received public support; and believes that this citizen's charge should start in the 2009-10 financial year.

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