Bank of England warns of problems

Panda wrote:Youv"e got to hand it to the Americans ........millions of dollars and hundreds of names of U.S. Citizens are to be handed over to the Government from Swiss Bank accounts suspected of Tax avoidance.

When will Britain follow suit.

Starting with the companies on the FTSE 100 list. A very small number of those companies pays any UK income tax.

AnnaEsse wrote:

Panda wrote:Youv"e got to hand it to the Americans ........millions of dollars and hundreds of names of U.S. Citizens are to be handed over to the Government from Swiss Bank accounts suspected of Tax avoidance.

When will Britain follow suit.

Starting with the companies on the FTSE 100 list. A very small number of those companies pays any UK income tax.

What about Philip Green AnnaEsse, although all his income is earned in the U.K. because everything is in his Wife"s name and she lives in
Monte Carlo where there is no Income Tax

When is some brave Politician going to stop these Banks?????



:50am UK, Friday October 28, 2011



Britain's top company directors have enjoyed a pay rise of
almost 50% in the past year, taking their average earnings to almost
£2.7m.


A study of FTSE 100 companies by Incomes Data Services (IDS) showed
that the 49% increase, which covers salary, benefits and bonuses, was
higher than the 43% seen by chief executives.


Average bonus payments for directors increased by 23% from £737,000 in 2010 to £906,000 this year, said the report.


Steve Tatton of IDS said: "Britain's economy may be struggling to
return to pre-recession levels of output, but the same cannot be said of
FTSE 100 directors' remuneration.


"The generous remuneration packages that FTSE 100 directors now receive indicates a marked improvement in boardroom fortunes.

Boardroom pay rewards are a brazen stitch-up. Reform
should start with employee representation on remuneration committees,
which would give directors a much-needed sense of reality.

TUC's Brendan Barber











"But with closer scrutiny of boardroom pay expected in the future,
remuneration committees will have to make sure that they are able to
provide full and thorough justifications for the bonuses awarded.


"This means that they will have to be much more transparent about how
total benefits packages are structured and how performance is
measured."


The pay of FTSE 100 chief executives rose by 43% in the last
financial year to an average of £3.8m, while finance directors enjoyed a
34% increase to take their average earnings over the £2m mark,
according to the report.


Mr Tatton said the figures showed that the pay gap between the
boardroom and the shop floor showed no sign of closing, adding: "At a
time when employees are experiencing real wage cuts and risk losing
their livelihoods, without further explanation it may be difficult for
FTSE 100 companies to justify the significant increase in earnings
awarded to their directors."


Another IDS report said workers in the private sector received an average pay rise of 2.6% this summer.


TUC
general secretary Brendan Barber said: "Boardroom pay rewards are a
brazen stitch-up. Reform should start with employee representation on
remuneration committees, which would give directors a much-needed sense
of reality."


A Department for Business, Innovation and Skills
spokesman said: "The Government has recently launched a consultation
into company narrative reporting and a discussion paper on executive
pay.


"Proposals being consulted on include how to strengthen the link
between pay and performance and provide shareholders with clearer, more
relevant information on executive remuneration."

NOT SURE IF RIGHT THREAD.
QUANTITATIVE EASING IS AFFECTING PENSION ANNUITY RATES.
QE HELPS PUSH PENSION FUNDS INTO RED,BECAUSE QE AFFECTS GILT YIELD RATES.

Badboy wrote:NOT SURE IF RIGHT THREAD.
QUANTITATIVE EASING IS AFFECTING PENSION ANNUITY RATES.
QE HELPS PUSH PENSION FUNDS INTO RED,BECAUSE QE AFFECTS GILT YIELD RATES.

Hi Badboy Quantitive Easing is another way of saying the Bank of England prints more money which devalues the existing currency which in turn results in

inflation and lower pension funds and goods and other services. apparently Pension funds have devalued by 30% since the economic crisis began.