Vince Cable warns of new taxes on banks if they continue to pay big bonuses

Comments

[whuh]

This banker bashing has gone too far.

There is nothing wrong with bonuses providing they don't create perverse incentives.

Red Vince wants to drive away the one industry in which we are have a massive advantage. J P Morgan are already making noises about expanding in Asia rather than in Canary Wharf.

I don't like bankers as a species but Labour's economic emergency is a time to stand up for what is best for the British economy, not what is popular.

[Commentator]

And thereby Cable proves that he is totally overrated, and financially illiterate. If the money stays in the bank it gets taxed at no more than 28%. If it is paid out as bonus, it attracts top rate income tax (50%) plus employers' and employees' national insurance. So the tax take goes UP.

[Vince Causey]

What good is that? Does Vince Cable really believe that will deter them from paying big bonuses to themselves? All he will suceed in doing is creating a big stick to bash the shareholders - ie the pension funds - over the head with. The bankers will be waltzing off with wads of dough stuffed in their pockets. Madness.

[Colin Smith]

Simplistic, socialist orthordoxy based on envy and ignorance.

Saint Vince would be far more at home in Labour.

Possibly.

[MartinW]

That migrant from Labour should get back to his rightful home as soon as possible. We do not want Vincent Cable in this coalition. He does us no good.

[Bill]

If I had a pound for every red; yellow or blue politician who has bashed the bonuses in the past two years I’d be as rich a banker myself – well almost – well okay then not really if at all.

[Ad]

I'm getting rather sick and tired of this man to be honest. He has got the highest sense of his own self importance and is completely arrogant.

Like the other posters have said, this "banker bashing" is ridiculous. I know the ignorant majority will still go with it - that's the problem with democracy I suppose. However, these are private institutions (most of them) and can do as they wish. They are business so don't offer bonuses for a bit of a laugh they do it to reward highly paid, skilled and successful people to incentivise them.

Nobody's perfect but as Tories we always know the ideology Vince really believes in is corrosive!

[Vincit Veritas]

Cable is a bitter and twisted old trot who makes Arthur Scargill seem almost sensible! He would be better off in North Korea (at their university). He can take Huhne with him and Simon Hughes and Pady Pantsdown.

[RA Floyd]

Why are socialists always accused of envy. Most of us have as much money as we need or want. The extra is needed to help the really needy (pensioners, homeless, handicapped, etc) and improve essential public services (health, eduaction, transport, libraries, museums and other cultural amenities). Need I repeat for the 42 millionth time that North Korea would not be considered socialist by anyone who isn't a raving right-wing looney.