The Royal Bank of Scotland, like so many other large banks around the world, were bailed out by the taxpayers in the UK. This wound up with the public owning an 84% share, leading songwriter Billy Bragg to organise a protest of the massive £1.6billion in bonuses to be handed out to the bankers. As part of his stance, he would be withholding payment of his taxes, risking fines and possible jail time.
The objective was to place a limit of £25,000 on bonuses payable. Presently, bonuses above £39,000 are payed out in stocks. By April however, Bragg did end up paying his taxes and a fine.
http://www.realwestdorset.co.uk/wordpress/index.php/2010/04/01/exclusive-billy-bragg-has-paid-his-taxes-and-a-fine/ See also his appearance on GMTV:
http://www.youtube.com/watch?v=17xRTcqhHqU Also a much more interesting interview (telling, on the part of the interviewer) with the BBC here:
http://news.bbc.co.uk/2/hi/business/8467309.stm
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