From this mornings Guardian: "Annual bonuses for FTSE 100 executives, which had fallen 30% a year ago, have bounced back 22.5% in the second half of 2009 IDS research found. The average bonus returned above the half-million mark to £558,918. An average basic salary pay rise of 7% for FTSE 100 executives was highlighted by IDS as latest figures from the Office for National Statistics, released today , showed private sector basic pay rose by just 1.2% for the three months to April to £419 a week.
Steve Tatton, editor of the IDS's Executive Compensation Review 2010, said: "It appears that all the signs are that after a period of relative austerity the good times have returned to UK boardrooms."
Well fancy that! Just as the hoi-polloi are being cajoled into servile acquiescence over the need for swingeing cuts out pops this little rabbit from the hat. Note, these are average bonus payments of over half a million pounds.
During the early days of the Second World War there was a propaganda disaster when an announcement was made on the following lines, "Your sacrifice, your effort and your suffering will help us win the war." Cameron and his wealthy mates had better beware they do not fall into the same presentational trap.
Rich greedy businessmen doing extremely well when most citizens are struggling is not conducive to the public good and is a recipe for civil unrest.
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