Bank should publish pay and bonuses of all top earners, Walker Report recommends - Telegraph.
Somewhere, there is a room. In it sit the chief looters of Britain; the leaders of leftist thought. Each day, over fair trade coffee, they ask themselves one question. How can we destroy Britain's economy?
You may think it far fetched, but how else do you explain such idiocy as this? Sir David suggests that bankers's pay and bonuses should be published by bands, without any names, but it's naive in the extreme to think friends, family and neighbours will not correlate the job description on your business card with your pay grade. In fact, in the envy-fest that is failure-loving Britain, they will imagine, greenly, that you are actually in a higher band.
If you were a high-flying banker, capable of moving your institution's profits by millions, would you choose to live in a country with among the highest taxes in Europe? To live in the shabbiest, most miserable European capital; a city with cramped offices, poor infrastructure and access to countryside via clogged roads or filthy public transport? To live where neither your abilities, your hard work nor your privacy is respected? To live in a country where your (massively taxed) gross pay and bonuses are published by your employer? To live in a country which respects nothing you do (and takes more than half your earnings to keep wasters in idleness?) Above all, would you choose to live in a country populated by envious, ignorant, uncultured (and heavily-armed) failures, encouraged by birth to blame the talented for their own uselessness?
Companies are already voting with their feet. Banks will too. The only reason the City prospers (usually) is because it has a reserve of talented individuals. That reserve is based only on flimsy tradition. Few of them, these days, are British. They come from countries with better lifestyles, and would usually love to go back there. The City doesn't grow these people. It simply attracts them. It can just as easily repel them. Sir David Walker seems intent on doing just that.
