Teresa is quoted in today’s Daily Mirror speaking out against multi-million pound bonuses to Royal Bank of Scotland (RBS) executives despite rumours of significant job cuts at the tax-payer owned bank. The article is available online here and the section referring to Teresa is reproduced below:
A second banking fatcat is in line for a multi-million bonus – making a mockery of David Cameron’s vow to tackle executive pay.
RBS investment boss John Hourican is to get up to £4million despite the taxpayer-owned bank’s falling share price and amid claims of 4,000 job losses.
And the news of the staggering bonus comes the day after it emerged his group boss Stephen Hester could pocket £7million in pay and perks this year.
The huge payouts blew apart Mr Cameron’s pledge on Sunday to end “crony capitalism” and get tough on excessive executive pay.
And Labour MP Teresa Pearce, a member of the Treasury select committee, said: “When the Government is the major owner of RBS, these payouts are almost sticking two fingers up to the public.”