Wednesday, 9 February 2011


I’m mystified.

Mr Osborne has put a small increase on the bankers’ tax, the bankers have feigned displeasure and we have been told it is a victory for the taxpayer.

Well from where I’m standing I’m not seeing a victory. I don’t see all the tax payers who are about to be made redundant celebrating this victory. Nor am I seeing all the people who have to work part time getting out the bunting.

George said in his speech: “The anger at the terrible mistakes of the banking industry and the failure of those who regulated it will long remain, and rightly so.

“But let us as a country confront this hard truth - anger and retribution will not bring one percentage point of growth or create one job.

“The anger will remain and we must never make the same mistakes again, but Britain must move from retribution to recovery.”

In short, yes, OK, they were wrong, and yes, they wrecked the country’s economy and your lives, but it’s time to forgive and forget and let them get back to trousering vast amounts of dosh, while you sit at home in the cold.

George, listen up mate. Along with an incompetent Labour government and financial control authorities, and an opposition that was reluctant to criticise the banker’s ridiculous remuneration or the country’s personal debt that was getting totally out of hand, these people, these bankers, are to blame for the horrific mess we are in.

And yet, and yet.... Some of these fools are walking away with bonuses well over a million pounds... while we get the sack or have to go part time. The government has felt it necessary to cut the military, reduce their perks; cut welfare payments even for sick people so disabled they cannot leave the house without help, telling them we are all in this together. Everyone must make their contribution.

It seems to me that we have started to treat these people like we treat royalty. Although there is no visible difference between us and them, they are different. We’re not quite bowing and curtsying, but, just as it is inconceivable that Princess Mrs Parker Bowles should take the bus to do her shopping in Morrisons, it is inconceivable that these people should suffer or be made to pay for their mistakes, because they are bankers.

They threaten to leave the country, go to Bombay, Dubai, Hong Kong, New York, and we shiver at the prospect, and beg them to stay. This may have more to do with the fact that these self same bankers provide more than half the money that runs the Conservative Party than that the country would go to the dogs without them.

God knows we went to the dogs WITH them.

Then we have someone with just a little bit of guts.

Liberal Democrat Finance spokesman in the Lords, Matthew Oakenshott, spoke out against the deal accusing Osborne’s team of “arrogance and incompetence”. Of course he was sacked by Nick the Tory for his troubles. Danny Alexander who also seems to have become more Tory than the Tories, condemned him and said that this does not reflect the Liberal Democrats’ view.

I rather suspect, Danny, that it does.

Perhaps the most worrying thing for the coalition is that Matt Oakenshott is a close friend of Vince Cable, and is seen by many as his spokesman.... Ew er... What's next?

Pics: (1) Jedward? Nope, but close. It’s our own Dgeorge, whose careers seem to me to be following the same trajectory as the cheeky twins. (2) A set of lazy scroungers who probably refused to take a pay cut or work part time or indeed for nothing for a month. (3) That’s what happens to little boys who tell lies. My granny told me that, but until now I doubted her. Sorry Gran. (4) As they always trot out us owning 80% of RB SCOTLAND or 40% of Halifax SCOTLAND, I thought it might be appropriate to remind people that we own 100% of NEWCASTLE, ENGLAND-based Northern Rock. (5) Despite reports to the contrary Liberals are not extinct. This one has been found languishing on the red benches. Not only is he Liberal but he appears to be a vertebrate.


  1. My thanks once again to Cyncial Highlander for pointing me in the direction of this story.

    Your cheque is in the post CH... the British post, so don't stand outside waiting for it.... it may be some time

  2. (sorry Tris; repost with proper links, feel free to delete the old one)

    Good post again.
    Nearly fell off my chair when I discovered that there appeared to be a libdem with some remaining principles and a spine! Who'd have thunk it, lol!

    Of course while the media have us watching Osborne sort out those naughty bankers for us, actually the govt are setting up the tax heist of the century for the banks amongst others; George Monbiot explains it.

    naked capitalism notes the media's bizarre insistence on not paying any attention to it.

    Unbelievable failure (or they are complicit) of the media in the UK.

    The wedge between the elite and the sheep gets driven in further and further.

    oh, before I forget - naked capitalism also have a nice post up about how increased taxes don't seem to make the rich bolt to less discerning hosts.

  3. I'm confused. If Gideon demands an extra £800m from the banks in tax how does this help us ?
    We own the banks. Without taxpayers they would fold immediately.
    Is this not like the council getting £800m from unemployed council rent payers and the unemployed rent payers getting their accounts debited with £800m to pay their rents ?
    So err we pay either way.

  4. Thanks you Pap.

    Yes, who indeed would have thunk it. Certainly not I.

    Thanks for the links. I think I'll leave them till tomorrow lunchtime, but they certainly look interesting.

    The rich and famous who threaten us with departure for one reason or another are pretty slow to go.

    I seem to recall Paul Daniels who was going to go live somewhere else if Labour got in. Then Michael Caine was going if they put the tax on earnings over £150,000 to 50%... Bye losers.

    The bankers talk big about going but they like London. They haven't taken into consideration the fact that they might have to learn another language if they go abroad and as that seems to be beyond most Brits it puts them off.

    Then here's the heat, the dirt, the flies and the poverty... but enough about London.

    I'll check out the links tomorrow...

  5. Gid...

    I think we're all confused... Beats me why when they are making so much profit we still own that much. I mean the share price must be back up. Could we not now start selling shares so that maybe the disabled don't have to lose their mobility allowances.

    Nah, now I am being stupid. This is not about there being no money; it's about ideologically driven cuts on the lower orders.

  6. tris

    Yes it's very confusing.
    Any tax on the banks is a tax on us all.
    Either close the banks down or stop taxing them.
    Then somepapfaedundee supports moonbat. The biggest cock in the free world.
    I give up.

  7. You're confused Tris? I had to read that 3 times. I'm still not jumping up and down like a joyful taxpayer. Maybe I'm not as brainwashed as they hoped.

  8. Oh don't give up Gid. Actually I can't see what's to disagree with in Mr Mombiot's (good nickname though) piece.

    They are doing this by the back door. The opposition is too stupid or too compliant to see it and even I can see that it is inviting everyone to "offshore".

    The keeping of the islands around the world where it is easy for rich Brits to stash their dosh (and this includes cabinet ministers and worst of all Gideon himself) is nothing but a scandal which no one seems particularly prepared to take on. perhaps because of the complexity. Who knows.

    But I think we are all confused at the message that goes out and the deeds that are done by the UK government.

    The statement that if Gideon gave up on his plans there would be chaos in the markets, made by none other than Gideon, makes him a hostage to his own words. Either he was clever enough to do that on purpose, so that he cannot change tack, or he was so stupid that he didn't realise the blind alley he was driving into.

    Whichever way we are completely stuffed now. Quite simply the rich get richer and we can go hang.

    Why are we in this awful country, with this government that works against us? We should be free.

  9. Oh I say SR. Sorry... Didn't mean to give you indigestion before your day's work...

    It gets more complex though when you read Somepap's links. They are stuffing us, firstly by making us pay more in tax and get less for it and yet giving medium and large companies massive tax breaks, and secondly by reducing the likelihood of growth in jobs in these companies by making it commercial madness not to base themselves offshore.

    Good news for the Isle of Man, Guernsey, Jersey, etc.

    It's just that you read a bit more than most....that's why you are not overjoyed.

  10. Its 51% of the finance for the Tory party that comes from banking and hedge fund sector, so it’s clear to see what the Tories get for this half-hearted slap on the wrists. No earth shattering revelation there then, the Tories as expected go light on the bankers (let’s face it the Tories would have led us into just as big a mess as Labour have), while appearing to be punishing them and they get a big stick to beat Labour. But what do the Lib Dems get out of it?

  11. What does the Taxpayer get out of it Munguin?

    The Lib Dems get an embarrassing sacking (or resignation, if you believe some of the papers) and they get a further embarrassment of a letter from over 60 leading councillors in the Times, cmplaining about it.

    What fun to be a Liberal.

  12. I'm sure with those bloated, corrupted and unethical oligarchs at the top that the British banking industry has plenty of fresh faces waiting for their chance, who might actually do a better and fairer job for us in the short term at least. Maybe we should give them a chance. I mean it can't be difficult to sit in an office one or two days a week for a few hours and pass off your duties to underlings? In fact, I'll volunteer...
    Also, taxing the banks might just work, because it's not as if we see the good of our money anyway. Most of the bailed out banks refuse to account for what the money went towards, while some are quite blase about the whole putting the public funds on the open market and essentially gambling with it. At least taxation would get us it back...

    I think it would be best if we all just ignored the banks, the royalty new and old, and continued as if nothing were different, just that money didn't exist.

  13. Tris.

    The Conservatives receive lots of funding from the bankers and Labour from the unions. To be honest one lost is as bent as the other.

    On the bankers/banks, yes they have been let off the hook but the same would had happened if Labour were still in power. Once again we see the power that the city of London holds over the rest of us.

    The banks are important for our economy to grow and without them the UK would simply collapse but this is despite having a oversized civil service we are told??

    So on one hand the civil service is too large but on the other hand the private sector, ie bankers are too important.

    I'm all for a strong private sector and a smaller but more leaner accountable public sector but I would like to see RBS and that lot at the TSB nationalised for good.

  14. tris Send to Edinburgh with plenty of noughts and don't forget to sign it.

  15. Allan
    The banks are important for our economy to grow and without them the UK would simply collapse

    Its a bubble growth putting more wealth to the rich as there is no real growth in the economy resulting in us picking up the tab.

  16. tris

    the moaning minnie shows his lack of Realpolitik who you think will be employing Messers Cameron and Osborne at the end of their political careers.

    You reveal your affinity with Bus drivers waitresses and such like lowly people and have no inkling what its to live the high life.

    do you know how much it costs to get your child Through Eton these days no of course you don't(prol)

    so come do tell who's arse do you kiss Mr and Mrs bus driver who haven't a pot to piss in.
    Or greedy stinking rich big fat W'banker well let me see that easy to answer isnt it???

  17. Hi tris not sure if you have an e.mail so posting here , you may or may not be interested in

  18. Laz, I wish they'd all just go... We'd get new ones. No one is indispensible

  19. Yes Allan, I know that Labour’s funding is every bit as bad, what worried me was that it wasn’t just industry, it was BANKS and finance houses, hedge funds, etc that were funding the Tories by more than 50%. It’s hard to be harsh with them when they fund over half of your activities.

    I hope that state owned banks don’t make political contributions.

  20. CH... You've lost me. Send what to Edinburgh with plenty of noughts and my signature.

    If it's a cheque the only way that plenty of noughts will work is if there is nothing in front of them....

  21. Thanks for sending suedenimon.

    I hope you get a positive answer from the Justice Secretary.

  22. Of course I know Niko. What ... do you think I’m a tightwad with my kids and send them to the local drugs market....

    It’s £250 to register, then there’s an entrance fee of £1500, then the fees are £30,000, then it’s extra for fencing, boating, music, judo, croquet, polo, pony stabling.

    Then there’s the uniform, the sports kits, the carious shoes and trainers... the cost of a bible, the tipping of domestics, a linen charge for serfs to change the beds and ensure that duvets are washed ironed and returned to the bed, an extra charge for any other activities, together with tradesmen’s’ bills

    I think around £60,000 should cover it.

    Per child.

    So if you have three, that’s £180,000