News

Cost of Living: Bonuses & Bluff

(August 14, 2013)

EDM - One Nation Quotes 2

David Cameron promised he was a different type of Tory. The type that could govern the whole country; rich or poor, upper, middle or working class. In the three years that he has been Prime Minister we have learned that he is just like the rest – only interested in standing up for the wealthiest in Britain at the expense of the poorest.

At a time when ordinary hard working families are confronted with the threat of redundancy, cut backs in the number of hours they can work, soaring rail fares and utility bill prices and an economy that has made life harder not easier for families, David Cameron will forever be remembered as the Prime Minister that turned his back on these people to give millionaires a tax cut.

In the Daily Telegraph last year, the PM tried to fool us once again when he wrote, “When I think back to the last election, this was the change that people most wanted to see. Economic growth that meant rising living standards for all, not just rewards for those in high finance.”

Yet with a cut in the 50p tax rate, Cameron has given financial rewards to the exact people he said he wanted to penalize – those in business services and finance.

In April 2013 alone bonuses in finance and business services rose by 82.2% compared to the same month a year ago.

This is an increase of over £1.8 billion to nearly £4 billion and suggests bankers delayed their bonuses to take full advantage of the Government’s cut in the top rate of tax, which came into effect that month. 

Stop and consider that for a moment. An 82.2% increase in BONUSES. Almost £4billion handed out in BONUSES in just ONE year. How dare the PM try and talk tough. How many bonuses have those working in the construction, retail or public service industries received in the last three years let alone in the last 12 months?

I was of the opinion that you shouldn’t judge Cameron on his Etonian background and where he has come from but that he should be judged on where he wanted to go and bring the country. Turns out that the direction he wants to go is far worse than where he has come from.

So in May 2015 the British people – those who have seen their incomes squeezed, the standards of living decline and the uncertainty increase – these people will face a fundamental choice in British politics between the party of privilege and the party of the people. 

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