RBS staff celebrations: Will cost taxpayers £1 million

Nov 12, 2008 | Comments 5

Royal Bank of Scotland (RBS) will be spending £1 million on Christmas staff parties, this shocking news came just days after it was exposed they spent £300,000 on a party for 40 of the bank’s senior employees and 30 partners, costing £4,285.71 per head, not bad for a night out.

RBS is set to receive a government handout of £20 billion to help support the bank in the crumbling economy, with people everywhere having to cut back to survive the recession Christmas entertaining with taxpayers money should not be the banks priority.

Sources at RBS have said the costs are “fairly modest”, however SNP Central Scotland MSP Alex Neil thinks the costs are obscene, considering many pensioners losing their life savings through the Royal Bank of Scotland shares collapsing.

Both Morgan Stanley and Barclays have said that they will not be paying for Christmas Parties this year. Both HBOS and Lloyds TSB have said they allow staff a modest amount for Christmas celebrations.

Source: business scotsman

Filed Under: Business News

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  • Rohan

    10 pounds per staff is nothing compared to the hard work put in during the year. This is a mere token.

  • Sean

    I think you will find that this is a nothing story, there is no Christmas party, do you research next time.

  • Blunt Axe

    I guess we the taxpayers will be having a Royal party when 3000 RBS staff are shown the door for working too hard. More to leave soon.

    Above all the Fat Cats on the Board have also worked to the bone and must be given a golden parachute with the chords cut for a safe landing!

    We will sadly miss them the Jokers !

  • candice

    What some people fail to forget is the people at the bottom level of the business, who are taxpayers too, and aren’t ‘fat cats’ that get lots of money for the work they do. we’re all paying for the bailout, remember that.

  • candice

    i think people forget that us rbs staff dont decide what the money gets spent on! i bet nearly everyone had a work christmas do right? also to point out the fact we are suffering the credit crunch and pay our taxes aswell so i dont think its right for people to blame rbs staff members.