2022 mini-budget discussion

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JonRGV250 said:
I’m not sure if it’s amusing that you actually typed that or sad that you actually believe it, probably.
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Well sunak did admit diverting funding away from poor inner city areas that Labour had set up to places like Royal Tunbridge Wells. So yeah, straight from the tories mouth.
 
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dowie said:
It's not just finance where salary is a small portion of total comp, see the tech industry too, at large tech firms a big portion of your comp is in the form of RSUs or options. At succesful startups, it's potentially a huge portion of your total comp. I don't see any rationale for artificially restricting that sort of thing... if anything, especially as far as execs are concerned, their comp ought to be very closely tied to the share price and their performance etc.., maybe their total comp is 7 or 8 figures but it's quite rational for their salary to be some low 6 figure amount and the rest be in equity, bonuses etc.
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I can confirm that is the case. Often RSUs reach 2-3x of cash income. Unlocking the caps on finance is going to drive salaries elsewhere as well such as tech because the demand for staff in finance will pull more resources out of these other industries.
 
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Chris Wilson said:
Interesting piece on Kwarteng and his family in the Ghanaian media:

mobile.ghanaweb.com

The revealing link between the Eastern Region’s Kwabeng and UK’s new Chancellor

It would seem like the United Kingdom, which has dominated news headlines in the past two weeks, is enjoying all the glory that comes with it, but Ghana has not been lost in all of the pomp and pageantry.
mobile.ghanaweb.com mobile.ghanaweb.com
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Kwarteng is an extremely clever man, I knew he was a King's Scholar at Eton but not the rest; well I certainly admire him for that and we'll see how he does.
 
delta0 said:
I can confirm that is the case. Often RSUs reach 2-3x of cash income. Unlocking the caps on finance is going to drive salaries elsewhere as well such as tech because the demand for staff in finance will pull more resources out of these other industries.
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Careful, don't post too many facts in here or CapitalOne will be in again kicking off...
 
delta0 said:
I can confirm that is the case. Often RSUs reach 2-3x of cash income. Unlocking the caps on finance is going to drive salaries elsewhere as well such as tech because the demand for staff in finance will pull more resources out of these other industries.
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I’m not convinced, personally. Are you saying salaries in finance for comparable tech roles are lower currently due to the cap? Apologies if I‘m misunderstanding.
 
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One More Solo said:
I’m not convinced, personally. Are you saying salaries in finance for comparable tech roles are lower currently due to the cap? Apologies if I‘m misunderstanding.
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No they are still generally higher. There’s a lot of overlap. However salaries rising in finance is going to cause that sector to grow and that will impact on other sectors like tech as it attracts talent away.
 
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After wading through 8.5 pages of unrelated drivel, I just noticed this was in GD and not SC!
Thank you @CapitalOne for bringing some actual knowledge to what could very loosely be described as the “debate”
Do you know if any research was done to determine how total compensation schemes changed after the cap was introduced?
 
Pipe & Slippers said:
After wading through 8.5 pages of unrelated drivel, I just noticed this was in GD and not SC!
Thank you @CapitalOne for bringing some actual knowledge to what could very loosely be described as the “debate”
Do you know if any research was done to determine how total compensation schemes changed after the cap was introduced?
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Fancy being so intellectually superior yet not being able to distinguish between simple sub forums.
 
CapitalOne said:
To be honest this year I would not worry about a cap, it’s a crap year. Next year probably worse! I don’t think there is a relationship to risk at all because of bonuses, it the regulations that would make that more of an issue if “we” said we would remove them (brexit), however most regs are about global business so it really confuses me how the government can side step these without only increasing the risk to UK investors (which include pensioners and those relying on insurance polices, ahem solvency 2 JRM) - the US and the EU won’t reduce our regulatory requirements to sell into their regulated markets. That stays so there isn’t any saving. It’s all been built and paid for anyway. It’s another ploy like corporation tax to make top execs think it would be great to have a UK based company.

Finally, I wasn’t thinking of you when I posted that, I was squarely aiming at the Tories here who think they know all about financial services ;)

ETA: late and friday (ahem) so I may need to reread and refine tomorrow :D
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I strongly disagree that its been a bad year, our side has made the most ever, even inspite of muted demand and sentiment on the ground.

It's a very interesting time to be alive.

And whilst I'm biased because of occupation, I think scrapping caps is clearly a good idea. Plenty of industries offer far more (for the likes eligible in the first place) and will help British competitiveness.
 
I don't feel bankers should be targeted for specific caps on their bonuses while people are making millions on Onlyfans, Twitch, Youtube, or just playing football for a living.
 
Roar87 said:
I don't feel bankers should be targeted for specific caps on their bonuses while people are making millions on Onlyfans, Twitch, Youtube, or just playing football for a living.
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The public has never bailed out anybody making money from onlyfans, twitch, youtube or football that I am aware of.
 
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