John Redwood’s intervention during the opposition day debate on Youth Unemployment and Bank Bonuses, 23 Jan

Mr John Redwood (Wokingham) (Con): Will the hon. Lady explain why Labour Ministers accepted and approved such grotesque contracts for RBS, so that they now personify payment for failure?

Rachel Reeves (Leeds West) (Lab): We introduced a bank bonus tax to get some money back from the banks. The Government refused to go ahead with it and, instead, gave the banks a tax cut this year. That is not acceptable, and that is what the motion is about.


  1. Techno
    January 29, 2012

    Reeves was a banker at HBOS when it collapsed. Elsewhere in the debate she complains that banker bonuses are rewards for failure but she doesn’t say whether she regards her own bonus as a reward for failure. Probably not, I would imagine, and additionally she probably regards her own bonus as a private matter that is nobody’s business but her own.

  2. SimonD
    January 29, 2012

    Good question…bad answer

    If politicians wonder why they have such a bad reputation part of the reason is exchanges like this. What is wrong with simply answering the question?

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