Kay Phillips

Are we all in the same boat together? Gideon Osborne, our aristocratic Tory Chancellor, insists that the level of ‘public debt’ means we all have to tighten our belts and make hard choices. He fails to mention that a very small group on British society created this huge debt with banking speculation. He also ignores the twenty year period of continuous tax cuts and evasion for the richest that explain so much of the debt.

While the majority has faced wage freezes and job losses since 2008, there is one group of wage militants who have seen their income rise dramatically. UK top executives receive an average of £3.1 million per year as a salary, according to figures released today. This represents a 5% wage rise since 2008. This seems obscene enough in a period of mass unemployment created by the very executives paying themselves such huge amounts.

However, the bosses have moved towards annual bonuses to supplement their meager income. These bonuses will reach up to 300% of annual salary and, even in smaller companies, will get to 100%. Of course, we all understand bonuses that relate to company performance or ‘performance related pay’ which companies tried to introduce across British industry. This is not what executives mean by it.

Cliff Weight, director of MM&K (one of those leading the study), explained that ‘many performance-related pay schemes appear designed to satisfy the Chief Executive Officer and in fact offer little incentive for anything above just 'adequate' performance’. In other words, the bonuses are almost inevitable for these executives but just do not appear as salary for tax purposes.

Most of us never experience such wealth in a lifetime yet alone a year. Why has there been no freeze for chief executives? Why are they not paying back the money lost in the recession or taken from the public finances?

The public schoolboy government of the ConDems is not about necessary cuts or hard choices. It is starting an austerity programme designed to break the modern notion of the welfare state. This attempt to shrink the public finances is about abandoning the safety net to the poorest caught in the recession. It is about refusing to accept responsibility for the lost jobs and refusing help to those without the right home or enough money to look after their families. It is about ending the very limited wealth redistribution in taxation and benefits.

This government intends to change the role of the state away from helping the poorest and relieving the tax burden on their rich friends, in whose name they govern. By the way, did you know that David Cameron is a direct royal descendant of King William IV? So, another aristocrat who hides it and another pretending to promote fairness in society from a position of privilege and without hard choices as we know them.