The board has confirmed they will not proceed with the proposed bonus payouts. We have secured the outcome we demanded and will continue monitoring their financial reporting to ensure this commitment holds.
In February the Royal Bank of Scotland (RBS), which received £20 billion of taxpayers' money, tried to £1b of it out in bonuses to bankers and traders.
We believed this was morally and economically outrageous and had to be stopped.
Thanks to 30,000 people signing this petition, RBS reduced the payout from £1b to £175m.
Now RBS reportedly wants to pay a total of £1.5bn in bonuses to investment banking staff, and the board has threatened to quit if the government blocks the move.
As the majority shareholder in RBS(the UK taxpayer) we believe the Government should make it clear to the board that they must put national interest ahead of personal interest and give up the bonus.
If not, the RBS board should resign.
N.B. Once you sign the petition your name will appear on the petition. You do not need to make a donation to iPetitions.
We have reached the 10,000 signature threshold for this petition. I am currently finalizing a formal letter to the Treasury to outline our position on the proposed bonus payouts. Please look for an update once I receive an official response from their office.
Reached 25,000 supporters
February 11, 2009
February 10, 2009
The petition reached 1,000 signatures today. I am drafting a formal letter to the Treasury to accompany these figures as we move to request a direct meeting with the board.
Reached 10,000 supporters
February 10, 2009
February 9, 2009
The latest surge in support has grabbed the attention of several Treasury officials who have requested a formal breakdown of our specific demands. I am currently finalizing a briefing paper for their review to ensure the pressure remains targeted on the board's compensation structure.
Reached 1,000 supporters
February 9, 2009
22 Comments
A
Anonymous
12 years ago
Featured
government have used taxpayers funds to bail this bank.....so now control 80%....yet it while they are still running in the red, seems they can still pay out atrocious bonuses to their staff.....STOP THIS FARCE NOW....
P
Patricia Kell
12 years ago
Featured
How dare bankers be given bonuses when they are not making profits or benefiting their customers who save and bank with them! If banks are state owned then re-payments should be given first to the government who bailed them out, not as bonuses to people who were involved in making the banking disaster.
S
Shaun windle
12 years ago
Featured
I am outraged with yet more bonuses being paid to a collective bunch of failures under the RBS umbrella. I am against extortionate amounts being paid out but it wouldn't be as bad if the taxpayer saw something for the money given to bail them out. Still they lose money year I year out.
M
Mrs Janice Donaldson
12 years ago
Featured
It's time the Government stopped these bonuses for people doing the jobs they are already well paid to so do. The bankers who made the mess have not been taken to task and the working poor are unjustly paying for their mess!
H
Helen Brown
12 years ago
Featured
"So, These "Great" bankers that talk about leaving the country if they don't receive obscene bonuses, the same greedy people that put our country in the mess we're in. They threaten to leave if they don't get more money, call their bluff, let them go. Will they find these marvelous new jobs as easily as they say, or is this another myth they're selling us?
The government needs to stand up to these people a million pound plus salary is a fine reward for pushing our county into financial ruin.
A
Anonymous
12 years ago
Featured
For goodness' sake; call the bankers' bluff and do not pay this bonus. If they want to leave let them; there are plenty other talented people around.
A
Anonymous
9 years ago
Must not be allowed to happenings a disgrace
J
Janet Evans
9 years ago
Austerity on working people and yet bonuses for banks is out of the question and WRONG!
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The board has confirmed they will not proceed with the proposed bonus payouts. We have secured the outcome we demanded and will continue monitoring their financial reporting to ensure this commitment holds.
In February the Royal Bank of Scotland (RBS), which received £20 billion of taxpayers' money, tried to £1b of it out in bonuses to bankers and traders.
We believed this was morally and economically outrageous and had to be stopped.
Thanks to 30,000 people signing this petition, RBS reduced the payout from £1b to £175m.
Now RBS reportedly wants to pay a total of £1.5bn in bonuses to investment banking staff, and the board has threatened to quit if the government blocks the move.
As the majority shareholder in RBS(the UK taxpayer) we believe the Government should make it clear to the board that they must put national interest ahead of personal interest and give up the bonus.
If not, the RBS board should resign.
N.B. Once you sign the petition your name will appear on the petition. You do not need to make a donation to iPetitions.
We have reached the 10,000 signature threshold for this petition. I am currently finalizing a formal letter to the Treasury to outline our position on the proposed bonus payouts. Please look for an update once I receive an official response from their office.
Reached 25,000 supporters
February 11, 2009
February 10, 2009
The petition reached 1,000 signatures today. I am drafting a formal letter to the Treasury to accompany these figures as we move to request a direct meeting with the board.
Reached 10,000 supporters
February 10, 2009
February 9, 2009
The latest surge in support has grabbed the attention of several Treasury officials who have requested a formal breakdown of our specific demands. I am currently finalizing a briefing paper for their review to ensure the pressure remains targeted on the board's compensation structure.
Reached 1,000 supporters
February 9, 2009
22 Comments
A
Anonymous
12 years ago
Featured
government have used taxpayers funds to bail this bank.....so now control 80%....yet it while they are still running in the red, seems they can still pay out atrocious bonuses to their staff.....STOP THIS FARCE NOW....
P
Patricia Kell
12 years ago
Featured
How dare bankers be given bonuses when they are not making profits or benefiting their customers who save and bank with them! If banks are state owned then re-payments should be given first to the government who bailed them out, not as bonuses to people who were involved in making the banking disaster.
S
Shaun windle
12 years ago
Featured
I am outraged with yet more bonuses being paid to a collective bunch of failures under the RBS umbrella. I am against extortionate amounts being paid out but it wouldn't be as bad if the taxpayer saw something for the money given to bail them out. Still they lose money year I year out.
M
Mrs Janice Donaldson
12 years ago
Featured
It's time the Government stopped these bonuses for people doing the jobs they are already well paid to so do. The bankers who made the mess have not been taken to task and the working poor are unjustly paying for their mess!
H
Helen Brown
12 years ago
Featured
"So, These "Great" bankers that talk about leaving the country if they don't receive obscene bonuses, the same greedy people that put our country in the mess we're in. They threaten to leave if they don't get more money, call their bluff, let them go. Will they find these marvelous new jobs as easily as they say, or is this another myth they're selling us?
The government needs to stand up to these people a million pound plus salary is a fine reward for pushing our county into financial ruin.
A
Anonymous
12 years ago
Featured
For goodness' sake; call the bankers' bluff and do not pay this bonus. If they want to leave let them; there are plenty other talented people around.
A
Anonymous
9 years ago
Must not be allowed to happenings a disgrace
J
Janet Evans
9 years ago
Austerity on working people and yet bonuses for banks is out of the question and WRONG!
government have used taxpayers funds to bail this bank.....so now control 80%....yet it while they are still running in the red, seems they can still pay out atrocious bonuses to their staff.....STOP THIS FARCE NOW....