Bank bonuses = bank robbery

9.30.55am GMT Tue 16th Feb 2010

Lib Dem campaigner Peter Carroll has slammed the City and 'Big Banks' for the return of Bonus culture. Peter is reacting to news that Barclays today announced over £11 Billion in profits and will pay enormous bonuses. Peter believes that paying bonuses to bankers in this climate is 'Bank Robbery'.

Peter said, 'The whole banking industry was guilty of irresponsible behaviour. Even though Barclays was not directly rescued by UK taxpayers it is still part of an industry and a culture that brought the country to its knees'.

Peter believes that taxes on bank profits should be much higher, that tax laws and other legislation should be used to encourage more long term investment from banks and that divisions of banks that exist solely to 'avoid' tax should be outlawed.

Peter also believes that the banks in which the taxpayer has a large stake should be totally nationalised and that business customers should be able to borrow directly from the Bank of England. Peter also supports a greater role for co-operative banks.

Peter said, 'The sight of bankers making huge profits and taking bonuses is truly revolting for those of us in business who had to suffer the consequences of their irresponsible behaviour'.