The current wave of hostility toward the payment of bonuses – most recently expressed in Ed Milliband’s call for RBS chief Stephen Hester to be denied his bonus – is a worrying sign for the UK economy.
Our latest research into accountancy and finance professionals’ expectations for the economy shows 53% believe 2012 will see no deterioration in the UK’s economic position. This remarkably positive collective view is a direct result of a strong performance across the industry in 2011. Unless we get more of the same in 2012, we can forget any prospect of a sustained recovery in the UK.
Seeking to deny people doing a good and important job the rewards for their accomplishments, whether they work for a public-owned company or not, is the most efficient way to drive talent to markets where enjoying the rewards of success is not considered taboo.
