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Royal Bank of Scotland in talks about £1 billion bonus scheme

The Royal Bank of Scotland is rumoured to be in discussions with the government agency set up to manage taxpayer shareholdings in the UK banking sector. The Sunday Telegraph has revealed the bank is looking to pay out over £1 billion in bonuses, something which is sure to anger taxpayers across the UK. The move comes at a time when Alistair Darling has announced the creation of a new agency to monitor bank bonus schemes, although many believe this to be a transparent attempt to get the public back onside.

The Royal Bank of Scotland has promised that no one person will receive a bonus in excess of £25,000 but with more and more of the UK public losing their jobs, this is unlikely to stem the tide of disgust at the move. When you consider that the UK public has invested £20 billion into the Royal Bank of Scotland operation, to effectively save the business from going under, a £1 billion payment in bonuses is the last thing the UK government would like to see.

As we approach the next stage of the banking bailout there are serious concerns that public unrest could well come to the surface again as it did in the recent foreign workers dispute which led to wildcat strikes across the UK.

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