City Bonuses

EDM number 1412 in 2008-09, proposed by John McDonnell on 30/04/2009.
Categorised under the topic of Financial institutions.

That this House is shocked by data from the Office for National Statistics that city bonuses are expected to be £7 billion this year, in the midst of the deepest recession in a generation; believes the Government should act immediately to introduce a windfall wealth tax on these bonuses; notes that many of these same institutions have been saved from bankruptcy by taxpayers' cash, and have laid off thousands of workers in recent months; and therefore calls on the Government to nationalise the financial sector to protect the taxpayer, save jobs and ensure profits are used to fund public need rather than private greed.

This motion has been signed by a total of 39 MPs, 1 of these signatures have been withdrawn.