The Green Party has condemned a banking culture of greed that is planning to abuse the public purse once more. Reports indicate that a number of leading banks are considering delaying the payment of bonuses until after the government’s 6th of April reduction in the top rate of income tax from 50p to 45p.
Natalie Bennett, Leader of the Green Party, said: "The news that Goldman Sachs and other banks are even considering this move is further evidence that the City has failed to grasp the need to fundamentally reform its ways and make a proper contribution to the society that it depends on for its profits and its future. But there are of course further institutions responsible for creating this situation. The first is the government, which has astonishingly persisted in cutting the top rate of tax to 45 pence, when it is clear that the richest in our society are already not paying their fair share.
Ms Bennett continued: "As a group they extracted huge profits from the boom years, but are not making an appropriate recompense for the cost of the bust. The second is the regulators, who have failed to rein in the level of bonuses, failed to adequately re-regulate the banks and ensure that they don't present a continuing risk to our economic future. Moreover, regulators and the government should be pushing hard to restore banks and financial institutions to their proper place as utilities that exist to serve the needs of individuals and companies, not purely their own interests."
