UK Government urges banks to curb bonuses
At a time when the UK government is looking to slash the public-sector budget there have been further concerns regarding banking bonuses in the short to medium term. There's no doubt that the banking arena has lost the trust of UK consumers and UK businesses because of the startling turnaround in business activity, profitability and bonuses as result of significant taxpayer investment.
With many UK taxpayers still struggling to make their budgets stretch, it seems that the banking sector is making money out of the desperation and the hardship of others. This latest call by the UK government is just one of many we have seen over the last two years which have to all intense and purposes been ignored. Whether this time we see the banking arena wake up and "smell the coffee" remains to be seen but with UK businesses failing on a daily basis there is a need to get everything in perspective.
It is hoped that the historic link between the Conservative party and the UK banking arena can be used to more advantage than the situation with the previous government, although ultimately this is business and profitability and potential for the future will dictate any changes.
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