Child Benefit versus Banker’s Bonus

This last week has finished with the discussions over the cut’s to Child Benefit. Forget all the posturing, we’re talking about saving a billion pounds in 2013.

Sneaking under the radar is the drop in the collective bonus being paid to top bankers. It’s dropped from £7.3 Billion to only £7 Billion. Thanks to the Irish papers for giving it a front page:-

http://www.irishtimes.com/newspaper/finance/2010/1006/1224280470673.html

And I had a wee laugh at the “Ratner” comments from Phillip Hampton (who has jumped the dyke after his effort for the previous government on “Better Regulation” ..meaning “less regulation”

 His previous work caused a lot of unrest and unease throughout the agencies he looked at over about 5 years. But at the very end it was a waste of money and effort, the last Labour Government was to busy serving it’s business masters and missed the opportunity to improve public services.  I think there was only one agency abolished afte all that work.

http://www.guardian.co.uk/society/2010/oct/06/what-to-do-when-quangos-abolished

This is worth bearing in mind as this government postures about cutting quango’s and saving money from cut’s in public services. The sad thing they have to realise is that many of these organisations do a good job.

The announcement on Friday about the proposed abolition of Consumer Focus will be worth watching. They have a very specific role in protecting vulnerable consumers in the provision of energy.

http://www.guardian.co.uk/money/2010/oct/10/consumer-focus-watchdog-to-be-axed

So we’ve got business as usual for the 100,000 or so top earners in the banks. proposals to cut benefits and rights for everyone else, and plans to abolish organisations to who look after our interests.

Interesting times.

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