Prescott's Facebook campaign takes aim at RBS bonuses

by Daniel Farey-Jones, Brand Republic 09-Feb-09, 09:00

LONDON - Former deputy prime minister John Prescott is using Facebook to mount a "people power" campaign to stop RBS handing out taxpayers' money in bonuses.

The bank is under fire from the MP following reports that it is preparing to hand out £1bn in bonuses, despite having received a £20bn rescue package from the government.

Prescott set up a Facebook group last year called 'No Ifs, No Buts -- Pass On The Cuts', which aimed to put pressure on banks to lower their lending rates in tandem with reductions in the Bank of England base rate.

He has now adapted this group to 'No Ifs, No Buts -- Give Up The Bonus', and is calling on people to send in their campaign ideas and case studies and sign an online petition.

In a speech yesterday at Manchester Town Hall he called on people angry with proposed bonuses to join him.

He said: "This week President Obama made it clear to the US banks that it was the taxpayer that saved them. Some of you may have read my recent blog where I showed great admiration in him standing up to the bankers and proposing the executive pay cap.

"He has also been very successful in creating an online army to support his fiscal stimulus package through Congress -- and we should use that people power here."

Prescott is also on Twitter where he has already racked up more than 320 followers.

Comments

kay harding - 11/02/2009

give up the bonuses to the banks they got the country into the mess it is in why do we reward them at all it is immoral even to consider it they should at least get us out of it first as a minimum bonuses are not due i dont believe an ordinary person does not get rewarded like this for causing trouble