Bonus points

Published on 24/02/2012 00:00

The latest results from the Royal Bank of Scotland, owned by us, the taxpayers, shows another major loss, yet large bonuses are still being paid to many RBS bankers (your report, 22 February). It is very hard to understand why.

Most company bonuses are structured on a combination of how well an individual has performed, how much his or her department has achieved and, finally, whether the overall business shone through the year.

If any of the parameters are not met in a positive manner then no bonus will be paid.

As RBS has lost many millions of pounds again then surely shareholders must look at why millions of pounds in bonuses are being paid this year.

Bankers’ pay and bonuses should be set along the lines of other businesses and then we will see better understanding and fairness for all.

The Chancellor is busy telling us all to lay off the bankers. With the country struggling financially that may be a difficult wish.

Iain J McConnell

Gifford

East Lothian