British singer Billy Bragg took to the streets of Edinburgh, Scotland on Saturday (13Feb10) to continue his crusade against U.K. banks using taxpayers' money to pay employees big bonuses.
Considering that this hole in the public purse has been caused by the bailout for the banks, the bankers should be leading the way in making economies
The 52-year-old political activist was angry to discover bosses at Royal Bank of Scotland (Rbs) plan to hand investment bankers £1.5 billion ($2.5 billion) in bonuses this month (Feb10) - after agreeing to slash payouts during the worldwide financial crisis.
Bragg had threatened to stop paying his tax because numerous bailouts mean the U.K. government owns 84 per cent of Rbs Group.
He took his message to the masses on Saturday - and called on U.K. chiefs to cap bonuses at $33,000 (£25,000).
Bragg says, "I'm doing it to draw attention to the fact the bankers seem to think it's business as usual now. They're starting already to talk about paying the kind of excessive bonuses that got us into all this trouble in the first place, whilst the rest of us are being softened up for public service cuts.
"Considering that this hole in the public purse has been caused by the bailout for the banks, the bankers should be leading the way in making economies".
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