City Bonuses, too big or driving the economy?
Posted by mattquaife on Monday, 19 February 2007 10:52:40
Hello David,
I would like to hear your opinion on city bonuses.
Peter Hain's recently argued that two thirds of city bonuses should go to charity. Do you think this is a just comment? If they should be reduced should it be done by taxing, i.e a higher income tax bracket?
I am a final year maths student who has a graduate place in fund managment and thus will benefit personally(hopefully) from such bonus schemes and therefore my opinions could be seen as biased. However, I believe London is the driving force of our economy, London is becoming the leading financial centre of the world, overtaking New York and any reduction of ensentive would make the city less competative and therefore loose its attraction and its talented people. London would stop fuelling our stable, growing economy, do you agree?
Kind regards
Matt Quaife
Peter Hain, London, Bonus, City, Investment Bank, Tax