Stephen Hester: Tax dodging bastard

According to Ritchie\’s rules this should be counted as tax dodging, shouldn\’t it?

Taxman \’denied £500,000\’ as Stephen Hester waives £1m RBS bonus
Stephen Hester’s decision to waive his £1 million bonus will see the Treasury lose out on hundreds of thousands of pounds, estimates suggest.

A bonus to a senior banker is entirely normal practice.
They are diverging from that normal practice and as a result the Treasury is going to lose revenue.

This is, from the way he talks, tax doging. Should be banned eh, should be forced to take the bonus to that thte tax is paid.

9 comments on “Stephen Hester: Tax dodging bastard

  1. Do we know if he is actually being awarded shares or deferred options at a fixed strike price (the more common practice)?

  2. I’m waiting for Richard Murphy to report on David Miliband’s “income shifting” arrangements which cost’s the HMRC revenue as well!

  3. Surely the preferred option for RM is that he gets taxed on the bonus because he was legally entitled to it, and if he (completely of his own free will of course) decides to forgo it, he gets taxed on it anyway?

  4. I wonder if RBS boss Stephen Hester is wishing he had taken up playing football at school rather than studying hard to achieve first class honours degrees in Philosophy, Politics and Economics. With wages for professional footballers topping £10m, Mr Hester would be forgiven for feeling a little under-appreciated in his role to return one of the UK’s largest hanging investments to profitability.

    Watching from the economic stands I can see that rewarding the boss of a state owned bank with shares is by far the best way to ensure his loyalty to the cause. UK Chancellor George Osbourne and the Leader of the Opposition Ed Milliband have [IMHO] shown a short sightedness in siding with press driven public opinion instead of the national best interest. Let’s face it, they won’t be making such a fuss over Wayne Rooney’s pay will they ?

  5. I think we ought to be allowed to hear RM’s comments on the last time he was pressured into giving up a contractual bonus by the green-eyed monsters. No doubt he was ecstatically happy, in deed in a state of beatification.

  6. I wonder how many of the evil bankers should eran less and pay more tax actually a) think about the amount of NI and PAYE contributed by the City (and thus lost under the new world order) and b) pay any PAYE or NI themselves? Indeed the whole of the Meida Aristocracy (Mediocracy?) could do with a strong spotlight shone upon just how much they are contributing to the Treasury. In the interests of fairness you understand. Paxo, Marr, Rothermere?

  7. To be pendantic, is the tax doging mentioned above anything to do with the car park entertainment covered in a previous post?

    Does seem to be an area a WGCE would find challenging.

  8. Indeed the whole of the Meida Aristocracy (Mediocracy?) could do with a strong spotlight shone upon just how much they are contributing to the Treasury.

    But if you did that and consider how many of the Mediocracy are MP’s, Lords, Quangocrats, “Political Consultants” or just plain work for the BBC, you will realise that they are all firmly attached to the public teat either directly or indirectly.

    So they would be all contributing a negative amount to HM Treasury.

    In fact Tony Blair has to be congratulated for turning his tax leeching into an export business so that he is mostly (but not exclusively) leeching of other dodgy governments rather than his own.

Leave a Reply

Name and email are required. Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.