Kuma the Bear
The Ultimate King of Iron Fist
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UK Politics Thread 🇬🇧
- Thread starter Kitsch
- Start date
Feels like a riot year...too much bad shyt coming togetherBetween fuel costs rising up, the rail industry striking and bus routes being cut, people aren’t going to be able to go anywhere at this rate
DrBanneker
Space is the Place
New strike chaos as teachers and NHS staff warn of action over pay
Rail unions set to walk out on Tuesday, as clashes loom over public sector pay offers falling short of inflationwww.theguardian.com
Gonna be a hot summer
Be smart. I hope brehs won't give Bojo the excuse for the police state he clearly itches for. Ya'll stay safe.
No 10 planning to tear up restrictions on City bosses' pay amid cost of living crisis
Leaked letter from PM's chief of staff to Rishi Sunak sets out plan to end 'burden on business' of restrictions on directors' pay
inews.co.uk
There were restrictions?
Downing Street has asked ministers to ease restrictions on City bosses’ pay in a bid to show overseas companies the “benefits of Brexit”, i can reveal.
Steve Barclay, the Prime Minister’s chief of staff, wrote to Chancellor Rishi Sunak with a plan for “deregulatory measures to reduce the overall burden on business” and attract more firms to the UK.
One key plank of the plan included “removing restrictions on director (and specifically NED [non-executive director]) remuneration as suggested by the London Stock Exchange Group to improve London’s attractiveness for listings”.
It is understood that among the changes being considered by BEIS is amending the UK corporate governance code to allow non-executive directors – outsiders who oversee pay packages – to own more shares in that company.
Backers of the idea say that it would allow independent directors to show they are “fully invested” in the success of the firm, but critics warn it would create possible conflicts of interest.
Shadow Business Secretary Jonathan Reynolds added: “It’s the hallmark of a Government that lurches from crisis to crisis that instead of giving businesses real certainty, they’re looking down the sofa for random ideas.
“If this is what an audit review of four years, three consultations and thousands of pounds of taxpayers money has given us, it’s clear the Tories are incapable of governing.”
I'm still waiting for one benefit of Brexit. Even one...
the next guy
Superstar
no more trains
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No 10 planning to tear up restrictions on City bosses' pay amid cost of living crisis
Leaked letter from PM's chief of staff to Rishi Sunak sets out plan to end 'burden on business' of restrictions on directors' pay
There were restrictions?
it's a joke. i think they are talking about the post 2008 pay restrictions and other regulations like clawbacks etc.
any excuse to remove them i guess.
88m3
Fast Money & Foreign Objects
Wow.
Have things greatly improved for the working class since Brexit that made them consider this?
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nope but 'UK inequality reduced since 2008' .
23 June 2022
"New FCA and PRA bonus clawback rules: The UK now has the toughest bank pay rules in the world
New rules to claw back bankers’ bonuses for up to 10 years threaten to undermine London’s appeal to international financiers, consultants warned yesterday, in the latest salvo against big banks from UK regulators.The clawback rules comes amid growing tensions between large international banks, such as HSBC, and the government over the UK bank levy ahead of the Budget on 8 July. HSBC warned it could be forced to shift its headquarters out of the UK due to the levy earlier this month. "
"Senior managers could face a clawback period of up to 10 years."
New FCA and PRA bonus clawback rules: The UK now has the toughest bank pay rules in the world - CityAM
New rules to claw back bankers’ bonuses for up to 10 years threaten to undermine London’s appeal to international financiers, consultants warned yesterday, in the latest salvo against big banks from UK regulators. Read more: Bank bonus clawback extended to 10 years by UK regulators The...
www.cityam.com
88m3
Fast Money & Foreign Objects
nope but 'UK inequality reduced since 2008' .
23 June 2022
"New FCA and PRA bonus clawback rules: The UK now has the toughest bank pay rules in the world
New rules to claw back bankers’ bonuses for up to 10 years threaten to undermine London’s appeal to international financiers, consultants warned yesterday, in the latest salvo against big banks from UK regulators.
The clawback rules comes amid growing tensions between large international banks, such as HSBC, and the government over the UK bank levy ahead of the Budget on 8 July. HSBC warned it could be forced to shift its headquarters out of the UK due to the levy earlier this month. "
"Senior managers could face a clawback period of up to 10 years."
New FCA and PRA bonus clawback rules: The UK now has the toughest bank pay rules in the world - CityAM
New rules to claw back bankers’ bonuses for up to 10 years threaten to undermine London’s appeal to international financiers, consultants warned yesterday, in the latest salvo against big banks from UK regulators. Read more: Bank bonus clawback extended to 10 years by UK regulators The...
tearing up these rules would make economic inequality worse is what you're saying
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i am saying they never wanted those rules in the first place, so they are using the first excuse to remove them.
they are using the pretext that they want to help but this move benefits high earners.
i'm not seeing much in terms of helping normal workers to "level up" in london.
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IMO opinion the gap between lower and high earners is secondary to the gap between incomes and acceptable living standards in general.
especially in london + SE - where circa half of UK brehdom lives.
ADevilYouKhow
Rhyme Reason
The UK's Unique Brand of Travel Chaos Is Upending Recovery Efforts
Overstretched airports and nation-wide rail strikes set to last an entire week are slamming the brakes on the UK’s economic recovery.
skift.com
88m3
Fast Money & Foreign Objects
Conservatives Lose Key District in Major Blow to Boris Johnson
Boris Johnson suffered a major upset as his Conservative Party lost a key Parliament seat in southwest England, raising fresh questions about his leadership and faltering popularity in traditional Tory heartlands.
www.bloomberg.com
Boris Johnson fails to oust Lady Scotland from Commonwealth role
PM publicly stated he was supporting her Jamaican rival, which Scotland’s supporters said was an abuse of his position
www.theguardian.com
Fat clown stays losing
dikkhead should have stayed out of Commonwealth business
88m3
Fast Money & Foreign Objects
British taxpayers take stake in sex party planning firm Killing Kittens
Company given support from fund set up by government to provide loans to startups during pandemic
www.theguardian.com