Royal Bank of Scotland are having a laugh! At our expense.

Commenting on the announcement of RBS’ losses and bonus pool, Liberal Democrat Shadow Chancellor Vince Cable said:

“It’s hard to understand why £1.3bn is being paid out in bonuses when RBS continues to make losses.

“RBS rewarding individual bankers is like a football team paying their striker for scoring when they’ve just been relegated.  

“While it is good news that RBS is meeting its mortgage lending target, its lending to business has fallen.

“The Government has to get a grip and explain how it will exercise its 84% shareholding in RBS to benefit the taxpayer. At present we are seeing very little. Part nationalised banks are for lending, not bonuses.

“Stephen Hester seems to think that his only goal is to push up the share price. But RBS has made a commitment to support recovery by ensuring that viable businesses are not starved of capital.  If RBS doesn’t lend to businesses they will go bust and people will lose their jobs.

“The lending agreements for 2011 need to be more concrete, long term and better policed.”

….according to latest figures. Gordon Brown’s ‘ruthless exploitation of hard-working families’ through rising council tax bills was made clear by shocking new figures yesterday. The total amount of council tax collected in England has doubled to more than £21 billion a year under Labour - an eye-watering 55 per cent rise even after inflation.

Commenting on Government  figures showing that local authorities have more than doubled the amount of money raised from Council tax in the past decade, Liberal Democrat Shadow Communities and Local Government Secretary, Julia Goldsworthy said:

“Millions of families have struggled with Council Tax bills that have soared while Labour has tinkered at the edges. Both the Tories and Labour offer no serious alternative to a tax that has skyrocketed this decade. The Liberal Democrats would move to a fair system of local taxation based on people’s ability to pay.”

……….Every household in the country is sitting on paper losses of almost £1,000 so far on bailouts for Royal Bank of Scotland and Lloyds Banking Group.  UK Financial Investments Limited (UKFI), which manages public stakes in the two banks, said every household had more than £3,000 invested in Lloyds and RBS shares. 

Unfortunately, I don’t expect to see a penny of it - stinks, doesn’t it? I don’t recall being asked if I wanted to invest! If I had been asked I would have answered with a resounding NO!

…….Love, friendship and respect do not unite people as much as a common hatred for something.

People of the United Kingdom have united in a common hatred - the greed of some politicians with regard to their expenses claims. Those who have, by their inappropriate misuse of the claims rules, made fools of tax-payers will no doubt feel taxpayers’ wrath at the next General Election.

This will be just desserts for those who have made ludicrous claims for  items such as an Ikea plastic  bag, pork pies, horse manure and a magic mop. If all tax-payers were given a magic mop we would clean up Parliament once and for all.

It’s small wonder that some MPs have so little grasp of the true Cost of Living; it has so little bearing on their lives because they make us responsible for their living costs!

…….MPs who stand down after expenses revelations should not be entitled to large tax free pay-offs, Liberal Democrat leader Nick Clegg has said.

Since stories about expenses claims began, 13 MPs have said they will stand down at the election, although three say they are going for health reasons.

They will be entitled to a pay-off worth up to a year’s salary of £64,000 depending on their age and experience.

Mr Clegg said there was “no reason” some should get the tax free reward.

Mr Clegg, who has also called for voters to be able to sack their MP, said: “I can see no reason why an MP who is sacked or decides to stand down should be rewarded with a big, tax-free, lump sum payment.

“This money is intended to help people who are suddenly voted out of office,” he said.

“Anyone else who decides to quit their job of their own accord can make arrangements for themselves. MPs should get a leaving card, not a cheque for tens of thousands of pounds.”

Under current rules, Conservative MP Julie Kirkbride could receive a pay off of about £32,000 while Labour’s Margaret Moran could get £54,000 - by way of the “resettlement grant” which is only paid to MPs who leave at a general election.

Let’s face it; they have milked the system and should have built a tidy sum for their retirement. The whole idea of paying off an MP whose integrity has been compromised will add weight to  voters’ belief that some MPs are not worthy of their constituents’ support. They should do the moral thing and go now.