The UK government has today gone on the offensive with regards to banking bonuses and banking remuneration packages, hot on the heels of last week’s disastrous GDP figures. In an obvious attempt to deflect the growing criticism of the way the UK government has handled the recession, the tables are again being turned on the banking sector and bankers are being painted as “the devil incarnate”.
While these ongoing attacks on the UK banking sector will no doubt grab the headlines over the next few days there is a growing backlash against the government and the mounting number of false dawns which have been communicated to economists and UK taxpayers alike. The problem now is that even if the UK economy moves back onto the growth path in the short term, it will take some time before economists and taxpayers are willing to take what the government is saying at face value.
The situation is also complicated further by the forthcoming general election which will obviously see opposition parties trying to paint a dark picture of the UK economy while the government will look to highlight any positives and ignore any negatives. There will be many issues for UK voters to consider as we approach the election and much information to “ignore” as parties look to feather their own nests.
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