It should be Brown calling for an end to the bonus culture: Cameron doesn\’t mean it, he\’s simply proposing token action. Labour could effectively end it by disallowing bonuses to be set against a company\’s tax as a legitimate expense. Research suggests that bonuses and performance-related pay serve no good purpose, though these false incentives have been a Labour article of faith, leaking into the public sector. "No more bonuses – an honest day\’s pay for an honest day\’s work" should be Labour policy: watch the Tories U-turn to oppose it.
Staff at the John Lewis Partnership are likely to see their bonuses significantly cut next year after poor trading across the group.
John Lewis staff are paid a percentage of their annual salary as a bonus in recognition of their work. Last year the retail group\’s 69,000 staff shared a bonus pot of £181m – equivalent to 20pc of their annual salary.
Despite a last minute rush of Christmas shopping announced yesterday, analysts expect this year\’s bonus, to be announced next March, to be significantly lower.
That\’ll learn those thieving fatcat bastards, eh?