BANKERS' BONUSES

Early day motion 1162, tabled 7 March 2013 by George Galloway (Respect). Signed by 10 members.

That this House believes that the Government's cosseting of the country's greedy bankers is damaging not only to the national interest but international standing; condemns the lack of hands-on control of the RBS-owned 82 per cent by the taxpayers; notes that the banks' executives brushed aside their state shareholder and paid themselves £600 million while posting a loss of £5 billion; further notes that loss-making Lloyds dipped into its till and gave senior staff an extra £365 million; points out that money-laundering HSBC announced 78 of its London executives would take home more than £1 million each; remembers that an estimated £500 billion has been pumped into the banks by taxpayers; commends actions in other European countries and at the EU where measures are being introduced to curb excessive bonuses; further believes that this Coalition administration packed with millionaires has no will to introduce proper governance of the banking sector; and concludes that never in British economic history has so much money been wasted on so hopeless a cause.

Signatures by party: Labour 5, Social Democratic and Labour Party 3, Liberal Democrat 1, Respect 1.