Peter Hain, who is bidding to become Labour’s next deputy leader, has threatened government curbs on “grotesque” City bonuses … . He is warning that unless Britain’s business community shows more restraint in the pay and perks of top executives, the government should intervene to regulate them.
Exactly what business is it of Mr Hain’s and the Government’s what a company, accountable to no one but its shareholders, chooses to pay its executives? And this from a Government that has done its utmost to stifle private enterprise. This Government has subjected business to the most complicated, burdensome tax regime ever. On top of that, it has taxed it heavily, regulated it highly, and raided its pension funds. So much so that warnings are increasingly being sounded about the increasing appeal of other countries (see here, here and here). These businesses deliver high taxes to the Treasury, which are then wasted in typical New Labour fashion. Not content with all that, they are now turning their interfering gaze to boardroom pay.
Peter Hain is standing for Deputy Leadership of the Labour Party, and no doubt knows that this sort of talk goes down well with the Party faithful. This is nothing but the politics of class envy, playing to the baser instincts of his Party members. And this from a Cabinet minister in a so-called ‘modernising’ Government. He should be thoroughly ashamed of himself.
November 12th, 2006 at 4:29 pm
I think Peter Hain should be hauled before the courts and charged with Incitement to Wealth Hatred. He is clearly stirring up resentment and a irrational hatred of free enterprise.
November 12th, 2006 at 5:41 pm
And while they’re at it, I can think of a few other charges he can face. Does he think he’s setting a good example to our nation’s youth, tanning his ugly mug to a cinder? Tosser.
November 12th, 2006 at 9:05 pm
It strikes me that the humanist-left are always more preachy, prescriptive and self-righteous than the Christian heritage they shun.
November 14th, 2006 at 9:07 pm
Bel, what’s happening? You’ve had two good posts - about the prison/drug thing and about the nanny state. They’ve both vanished! I appreciated reading them.
Have you started blogging in reverse - removing comment on issues you feel strongly about?
And thanks for your very encouraging comments on my site. I’m enjoying your blog, too.
November 14th, 2006 at 9:53 pm
Hi Onyx Stone, that’s weird. I haven’t deleted them. They are still there. Blogger has been acting up today, so I don’t know what’s going on. Try refreshing your browser; they may reappear. Never fear, I haven’t started censoring myself
December 17th, 2006 at 4:04 pm
[...] First, it was Peter Hain, now it is the Lib Dems’ turn to grumble about City bonuses. Their Treasury Spokesman, Vince Cable, attacks what he calls ‘obscene’ City bonuses, claiming that they highlight ‘the gross levels of inequality in human wellbeing up and down Britain’. [...]
February 11th, 2007 at 4:28 pm
[...] It’s Sunday, so it can only mean one thing: politicians are attacking City bonuses. They certainly seems to make a habit of it on Sundays (see here and here). [...]