Will you look at this eh?
Across the partnership, sales increase by 7.5 per cent… to take pre-tax profit to £155m. This was down on last year\’s £282m,
So, item one, a fall in profits.
staff will share £151m as a bonus
Bonuses amount to an eyewatering 97.5% of profits. That\’s item two. Item two and a half is that this is a rise in bonuses….yes, bonuses have risen even as profits have fallen.
And item three, how did these profits come about?
He put the company\’s success in 2009, especially during the second half, down to consumers having more disposable income – through lower interest rates and VAT
Yes, that\’s right, it\’s a subsidy from the taxpayer to the company.
These staff are pocketing what is rightfully the State\’s money. This simply cannot be allowed to go on. A special national insurance tax must be imposed upon these scavengers of what is properly the property of the taxpayer. They must be made to pay for the aid they\’ve received…the tax that they are simply pocketing.
R. Murphy Esq is no doubt currently penning a report on the TUC\’s dime insisting that Alistair Darling correct this matter on March 24th. And bugger the law, the tax must be retrospective.
Hmm? What\’s that? He\’s not?
What was that? It\’s John Lewis we\’re talking about, not a bank? That doesn\’t matter though, surely? The evil is in bonuses, they\’re a temptation to screw the customer aren\’t they? A bonus for a shop hand incentivises them to encourage excessive consumption just as much as a bankers\’ bonus encourages excessive risk taking, doesn\’t it? Encourages excessive debt….go on, stick it on your store card!…Bonuses at near 100% of profits, this is the same isn\’t it? Bonuses paid only because of taxpayer support for the business, this is the same, no?
Oh, you say it\’s not the same? So, umm, all this about bankers\’ bonuses, taxes on, was nothing to do with bonuses, taxpayer support or anything like that? It was simply a partisan let\’s bash the bankers?
Oh, what a disappointment. I was sure they were telling us that bonuses themselves are a bad idea, that sharing the profits of the business with the staff is what led to incidents of kitten burning and baby eating.