Prescott's Pension Hypocrisy
Prescott was on the Today show this morning complaining about Fred the Shred's pension "rewards for failure". How ironic that this is in fact an area of particular expertise for Prezza.
When he was sacked as Deputy PM, for generally being an embarrassing incompetent, he kept hold of his pension perks - including additional pension contributions from taxpayers even though he wasn't working for them. Blair even let him keep two grace-and-favour homes, while stripping him of his departmental responsibilities. At the time opposition politicians railed at Prezza's "rewards for failure".
Lord Oakeshott, the LibDem pensions spokesman, said at the time: "First it was two Jags, then two pads. Now it seems we have two pensions Prescott. No fat-cat director in the private sector would dream of awarding himself such a generous pension for a part-time job."
Chris Grayling accused Blair of misusing taxpayers' money by keeping Prescott in government, said: "Just this extra pension cost to the taxpayer of keeping John Prescott in his position could have paid for four additional nurses. That is without other trappings such as his official residence and his ministerial car."
Even Labour MPs like Geraldine Smith were stunned; "I think it is outrageous that the Deputy Prime Minister loses his department but keeps his position, his salary and the perks of the job. It seems absolutely astonishing."
Prezza's pension pot makes him a multi-millionaire, courtesy of the taxpayers.
UPDATE : It is satire that writes itself to know that the overpaid Sir Fred chaired the Low Pay Commission and Lord Myners of Short Selling chaired what was known as the Treasury's "Myners Review" into the good governance of pensions.THURSDAY, FEBRUARY 26, 2009
Fred's Smackdown to Myners
Sir Fred Goodwin's letter to Lord Myners Tags: Myners10 PPS Sign EDM Opposing Postal Privatisation
Usually the convention is that a PPS who opposes a government motion resigns for the reason that technically they are part of the government, even though they are unpaid. The FT's Westminster blog lists ten PPS who have signed the EDM opposing Mandelson's plans to make the Royal Mail pay:David Wright (PPS to John Hutton), David Anderson (Bill Rammell), Claire Curtis-Thomas (Baroness Scotland of Asthal), David Hamilton (Ed Miliband), Mark Hendrick (Jack Straw), Stephen Hesford (Vera Baird), Sharon Hodgson (Dawn Primarolo), Ashok Kumar (Hilary Benn), John Mann (Tessa Jowell), Stephen Pound (Stephen Timms)
Laura Moffatt is a former PPS to Alan Johnson, her opposition might be a sign of where he really stands. Nick Brown, Gordon's long time henchman and now chief whip is also said to be not keen mon the bill. It is getting a bit like the dying days of the Major regime when euro-sceptics openly defied the government...Labour Partying With Bankers Tonight
Crisis, what banking crisis? Yesterday the City minister Lord Myners wasshowing off his art collection to the Labour glitterati, tonight John Prescott will be in the heart of the financial district partying with the rest of the London Labour Party to raise money from bankers at a £500-a-table"Gala Dinner"
For public consumption Labour are bashing the bankers whilst privately they will be dancing to their tunes, still hoping to tap them up for donations. Tonight's gala venue is next door to Lehman's building in Canary Wharf, so perhaps they won't raise quite as much money as they hope - particularly since any bankers still with jobs are unlikely to have cash to spare from non-existent bonuses. Unless of course you negotiated your exit package with Alastair Darling, in which case you are sorted for life...Lord and Lady Myners Party On
Broader society is suffering terribly as the banking and debt crisis ravages the economy. Yet the former Smith Institute deputy chairman, Guardian Media Group chairman, hedge fund director, long time Brown crony and newly appointed City Minister, Lord Myners of Short Selling, isn't showing any signs of belt tightening. Quite the contrary, he is hosting gilded parties.
Yesterday he and Lady Myners "graciously" invited their friends from the art world, politics and upper reaches of the Guardian into their Belgravia home to view their multi-million pound modern art collection.
Guido has been unable to confirm which particular vintage of champagne it was that Sarah Brown, and the many other friends drawn from the ruling New Labour elite, were drinking. Truly, they are "people who have no sense of the broader society around them."
Friday, 27 February 2009
Guido can't help thinking that the row over Fred's £8 million pension is a contrived bit of spin to distract headlines away from the £300 billion bet that HM Treasury is taking on RBS. Frankly Fred's £8 / £16 million is neither here nor there in comparison to what the government is committing the taxpayer to underwriting. If this goes pear shaped Iceland will be nothing in comparison.
Baron Myners said recently "I have met more masters of the universe than I would like to, people who were grossly over-rewarded and did not recognise that. Some of that is pretty unpalatable. They are people who have no sense of the broader society around them."
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