Singer’s tax protest at bank bonuses

Left wing singer-songwriter Billy Bragg is spearheading a campaign against huge bonuses at publicly owned Royal Bank of Scotland (RBS) by refusing to pay his taxes. He is urging the public to do the same to convince the British Treasury to act.

RBS is 84% owned by the taxpayer following a string of bailouts and is expected to pay up to 1.5 billion pounds in bonuses to its investment bankers.

Bragg says while he understood the need for the bailouts, “What I don’t understand is why, now that we taxpayers are the majority shareholders of these banks, we seem totally powerless to curb their excessive bonus culture?”

“Either we own 84% of the company or the entire thing is a sham. I’m fed up of no one doing anything about it.”

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