RBS bonuses - UNISON response

UNISON, the UK’s largest union, said today that that the millions spent on bonuses at the 82% taxpayer-owned bank RBS, would be better spent on keeping vital local services running. The union said that the bonus pot could fund more than 32,000 nurses, midwives and paramedics, 27,000 trained social workers, or more than 68,000 care workers to help support elderly and vulnerable people to stay in their homes. Dave Prentis, UNISON General Secretary, said: “While hardworking families struggle with pay and job cuts, and communities lose vital local services, RBS bankers are being lavished with bonuses worth £785 million. Pay in the bank’s investment arm has gone up by a third in the last year, on top of salaries the majority of us couldn’t even dream of. The bank is still making a loss – it is a reward for failure, and another clear sign that we’re not all in this together. “This bonus pot could pay for more than 32,000 nurses, midwives and paramedics. It could fund more than 68,000 care workers, or 27,000 social workers - what do you think is worth more to our country? “The government needs to ditch its warm words on fairness and take real action. It is only right that the sector that got us into this mess takes responsibility for getting us out of it. Cutting these bonuses and imposing a tiny transaction tax on the banks would be a major step in the right direction.”