Friday, 27 February 2009

Labour And Pensions (3)

The matter of 'Sir' Fred Goodwin's pension arrangements should be the subject of a full Parliamentary inquiry and this inquiry should not only focus on the actual pension 'deal' that was agreed as part of the process whereby Goodwin 'stepped down', but should also, more importantly, also focus on the 'who knew what and when' scenario in relation to Gordon Brown and Alistair Darling. Quoted in the Telegraph (note: online edition slightly different to print edition in content):

Gordon Brown: "I became aware of this deal a few days ago, and immediately demanded action"

Alistair Darling: "This agreement was not negotiated by the Government, nor was it approved by the Government."

Stephen Hester (RBS CEO): "Arrangements for my predecessor's departure were negotiated directly between past directors of this board, the Government and him."

The letter from Goodwin to 'Lord' Myners' can be read here and Myners' reply here

Gordon Brown bitterly complains and says that he shares the public's anger over Goodwin's pension and is quoted in the Telegraph, when speaking to the BBC, "When people make mistakes and the banks fail the public the people cannot and should not run off with entitlements and with additional discretionary payments"

Now, as an aside, this is a tad rich when one considers all the mistakes Gordon Brown has made whilst Chancellor and Prime Minister. "When people make mistakes and the public the people cannot and should not run off with entitlements....." - so where is the difference Mr. Brown viz-a-viz your pension?

Keith Vaughan, Great Strettin, Leicestershire, writing in a letter to the Telegraph today, says "The Treasury has claimed that it was unaware of Sir Fred Goodwin's gold-plated pension until two weeks ago. This is an astonishing admission of incompetence.The Government spent billions on a controlling stake in RBS. Did it not look at the 2007 accounts before doing so?The accounts show that at December 31, 2007, Sir Fred had an accrued pension entitlement of £579,000 with a capital value of £8,370,000, which was topped up to £16,000,000 at his departure."

It is obvious that 'due diligence' was not carried out by either Gordon Brown, Alistair Darling or the Treasury and it is also obvious that someone is being 'economical with the actualite', or in plain English, lying.

We the people, who after all fund this incompetent collection of 'Honourable Gentlemen' and 'Honourable Ladies' (their words - not mine) with salary, allowances and expenses have a right to know the truth.

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