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28/02/2014 - Shameless RBS fatcats announce more bonuses

Royal Bank of Scotland bosses are shameless. They must have known the disgust that would greet their announcement yesterday of bonuses of over half a billion pounds - despite making losses of over £8.2 billion this year alone.

The state-owned bank has lost £46bn over the past six years but chief executive Ross McEwan arrogantly defended the bonanza £576 million payout by declaring it was "only fair" on fat-cat investment bankers.

He said: "We need to pay these people fairly in the marketplace to do the job."

McEwan scarcely missed a beat when he backtracked on his own logic announcing £5bn worth of wide-ranging cuts and warning that the bank's lowest-paid workers were most at risk.

"We cannot spend money as though we are in profit when we have lost £46bn in six years" he declared!

Pat Harrington, General Secretary of Solidarity commented:

"The taxpayer bailed out RBS. Rather than pay greedy fat cats this money should be used to pay us back or invest in making the bank better so it is in a position to pay us back. Ordinary folk are fed-up with being told that "we are all in it together" by Cameron and his cronies. Clearly we are not and the fat cats just carry on as normal while we get cuts and pay freezes".