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Is it right to limit salaries and bonuses in the City?

We have seen groups from all areas of society involved in the ongoing attack on the City fats cats, but is it right to limit salaries and bonuses in a free market, or does it undermine the ideals of a free market approach?

We have seen every political party having a go at the City and we have even seen the Church join the fray, accusing City fat cats of acting like 'bank robbers', but is the government following the right path?

The move to control the City and the remuneration which is paid to those at all levels of employment could seriously undermine the attractions of the UK as a global investment centre. The likes of the US may posture about similar moves but these are never followed through because they appreciate that the US investment markets are central to the success of the US economy.

However, in the UK we seem to be taking a blinkered view of the situation and forgetting how the events of today were formulated. In reality the UK government has been feeding a debt frenzy over the last decade, pushing the attractions of the investment markets, whether via ISAs, pension funds or direct investment as well as making debt finance available to the masses.

So in reality it seems a little unfair to lay the blame for the current situation directly at the door of City highfliers, but then again attacking the rich has become something of a sport in UK political circles of later.

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