Thursday, 26 November 2009
Only full financial transparency will slim the fat cats.
The Walker Review has called for banks to disclose the number of staff earning in excess of one million pounds a year but not to have to identify the fat cats. I don't see how this will benefit anyone at all. What is needed is complete financial transparency -FROM EVERYONE. If the income and tax paid by everyone was put in the public domain it would be clear just how big a share of what is after all the common- wealth of the nation, was being taken by each individual. I can see no reason, other than guilt, why anyone would object to this. Of course undeclared income, be it the odd days work "off cards", organized crime or multi-million pound property scams, would remain hidden but the public availability of information on all taxed earning would be a major step in the right direction.