Half of City bankers receive bigger bonus than last year

[AtW]

Bzzt, wrong again I'm afraid.


Public

I said EN MASSE.

It was under Brown that this PFI tulip was used to put a lot of debt off the balance sheet in order to borrow more.

[BoredBloke]

The Tories may have invented it and the city may have given them the means to do it, but only Labour rushed headlong into it. Give the chavs a bunch of brand new hospitals and schools and they will be too thick to understand how they were paid for. Then the next lot will have to pay for them while at the same time trying to reduce a huge deficit. The whole PFI thing in the UK is bordering on criminal. How can the deficit be so high when the capital for all these major programs has been brought about largely through PFI?

[Freamon]

Mr Gordon Brown - he did it "en masse".

Bzzt, wrong again I'm afraid.

In 1992, however, the Conservative government of John Major in the United Kingdom introduced the private finance initiative (PFI),[2] the first systematic programme aimed at encouraging public–private partnerships.

Public

[MarillionFan]

Mr Gordon Brown - he did it "en masse".

Oi! AtW. Stow it. They'll be after Company Directors with 401K pension plans next!

[AtW]

Out of interest (I honestly can't remember) who started the whole PFI thing to off book public spending?

Mr Gordon Brown - he did it "en masse".

[TykeMerc]

Out of interest (I honestly can't remember) who started the whole PFI thing to off book public spending? I've a feeling it was the last Tory government towards the end of their reign, but I'd be happy to be corrected.

[Alf W]

Would you say Nu Liebor's contribution to UK Plc in the past 10 years has been positive or negative?

It wasn't ze City who signed off those PFI contracts you know - it wasn't ze City who borrowed lots of money to waste it on public expenditure that did not actualy create much meaningful in return. FFS, compared to Nu Liebor ze bankers are really nice fluffy cute animals they are!

'Anonymous' -ve Reputation posted against me

nu liebor lover

All because I called him a Muppet on an earlier thread for not having a grasp of GCSE level Maths.

So, do we have an answer? I'm interested in the actual answer. If the City has generated 10x what it has taken in bail outs over 10 years then maybe that message should be put forward to silence the detractors and let them get on with it. If they have failed to wash their face then all this talk about upping sticks and moving to another country should be stamped on.

For the record, I agree that far too much money has been p1ssed up the wall and into the pockets of consultancy companies. Nu Liebor, in many ways, were just Tory-Lites.

[Freamon]

In other news, the other half of "City Bankers" received a smaller bonus than last year.

Would you say Nu Liebor's contribution to UK Plc in the past 10 years has been positive or negative?

It wasn't ze City who signed off those PFI contracts you know - it wasn't ze City who borrowed lots of money to waste it on public expenditure that did not actualy create much meaningful in return. FFS, compared to Nu Liebor ze bankers are really nice fluffy cute animals they are!

<whispers>Actually it was ze City who set up the financial structures that PFI relies on, just so you know.</whispers>

[MarillionFan]

Glass and houses spring to mind.

[AtW]

Has anyone worked out if, over the past 5 or 10 years, the net contribution of the finance industry to UK Plc has been positive or negative?

Would you say Nu Liebor's contribution to UK Plc in the past 10 years has been positive or negative?

It wasn't ze City who signed off those PFI contracts you know - it wasn't ze City who borrowed lots of money to waste it on public expenditure that did not actualy create much meaningful in return. FFS, compared to Nu Liebor ze bankers are really nice fluffy cute animals they are!

[Alf W]

Has anyone worked out if, over the past 5 or 10 years, the net contribution of the finance industry to UK Plc has been positive or negative? If it's positive then maybe they are getting a bad press and we were right to bail them out. If it's negative then we should just ****-em over.

Genuine question. I really don't know the answer.

[moorfield]

Good. We need wunches of bankers spending money to get us out of the latest weather induced hole we're in.

[AtW]

On average, bankers said they had received a bonus worth £84,409 for 2010, with 49pc saying their pay-out this year was larger than last year.

The findings came in a survey of 654 UK-based bankers conducted by financial sector jobs website eFinancialCareers.

According to the survey, top-performing staff have received up to 40pc of their total pay for 2010 in the form of bonuses.

Across the board, bonuses are said to be up about 5pc on last year, although about a quarter of those surveyed said their bonus was smaller than the one they received in 2010.

Source: Half of City bankers receive bigger bonus than last year - Telegraph

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That's a good thing - the more bonuses bankers paid the more tax they pay, and therefore less cuts and less tax will be levied from the remaining population "too stupid" or "too unfortunate" to be a high flying City Banker.