Billy Bragg won’t pay his taxes at the end of this month if the Government doesn’t control the bonuses at RBS. For those who don’t know Bragg, he is a socialist singer song writer who for years has been campaigning for left wing causes. I have a soft spot for him. Among other things many of the songs are entertaining. He certainly doesn’t support any obnoxious causes that some left wingers do and he seems in touch with working people.
Bragg suggests bonuses at RBS are kept to £25,000 and points out – pointedly – that this is more than average earnings in the UK and that as a taxpayer – up till now anyway – he owns the bank and should be able to control policies at something he owns.
He may end up fined, and I believe, ultimately in jail.
However I wonder if Bragg isn’t on to something for Labour. A recent survey by market research firm Opinium (declaration of interest: I do some work for them and I suggested the questions) found the public had little faith in any politicians to keep the bonus culture under control. However the Tories scored higher on 19 per cent, to Labour’s 14 and the Lib Dems eight as the one most likely to do so.
It suggests that the party seen as representing the City of London is also seen as the one best placed to handle it. I can’t help thinking the hole Labour is in, is a deeper hole than they think, and that’s saying something.
As for Bragg, he has a bit of following among some Labour rank and file. But not much with the Tories, so I don’t see much point in his delaying paying much past May or June. I would however still like him to debate the bonus issue with Stephen Hester. It would certainly give him plenty of material for another song.
