The Treasury needs to understand the private sector better, says Will Davies, who worked at Societe Generale for seven years before entering the property maintenance business as co-founder of aspect.co.uk, London’s largest of its kind.
Mr Davies is reacting to bonuses to RBS bankers which were quashed by government. He brands the media’s theory that the bonuses are the reason for the economic downturn as ‘absolute drivel’. “What the government is actually doing is destroying value for the tax payer once again,” said Mr Davies; “We need our banks to be able to retain the best and generate returns like it used to. This action will lead to a mass exodus of staff and can you imagine anyone now wanting to go and work there. This will hit us all in the pocket and the Treasury is to blame. They don't understand private sector and we need to get RBS out of their hands ASAP.”