Bishop of Blackburn slams City 'fat cats'

The Rt Rev Nicholas Reade said taxpayers were ‘paying billions’ to rescue city financers.

He said: “City fat cats have certainly got their cream, especially as these leaders are receiving too many extras and incentive bonuses.

“And I also believe they will carry on getting bonuses in the future, leaving the taxpayer to keep their businesses afloat.”

Writing for his Blackburn diocesan magazine ‘The See’, the Bishop said billions of pounds were being ‘wasted’ on the so-called ‘fat cats’.

He added: “I am amazed that huge bonuses will be dished out for the city financers’ performance, especially during the time of the credit crunch. And so much of the taxpayers’ money has already gone into rescuing them.”

Every year, City 'fat cats' get slated for the size of their bonuses. But the bishop said he can’t accept that the ‘fat cats’ are worth their large salaries and even larger bonuses.

“We can point accusing fingers at City fat cats, and I am at a loss to understand why some of them are apparently again to receive bonuses this year.” The Bishop also wrote that ‘Lancashire’s Anglicans’should respond ‘creatively’ to the credit crunch during 2009.

“The financial crisis involves us all and we are all complicit. People should think about buying Christmas presents for other people through charities and developing Christian programmes to counter the credit crunch.”

He also suggested each Church organisation should cancel one meeting during 2009, using the time to walk round the local community and seek issues that the parish could respond to.

OPINION>>8 The Rt Rev Nicholas Reade said taxpayers were ‘paying billions’ to rescue city financers.

He said: “City fat cats have certainly got their cream, especially as these leaders are receiving too many extras and incentive bonuses.

“And I also believe they will carry on getting bonuses in the future, leaving the taxpayer to keep their businesses afloat.”

Writing for his Blackburn diocesan magazine ‘The See’, the Bishop said billions of pounds were being ‘wasted’ on the so-called ‘fat cats’.

He added: “I am amazed that huge bonuses will be dished out for the city financers’ performance, especially during the time of the credit crunch. And so much of the taxpayers’ money has already gone into rescuing them.”

Every year, City 'fat cats' get slated for the size of their bonuses. But the bishop said he can’t accept that the ‘fat cats’ are worth their large salaries and even larger bonuses.

“We can point accusing fingers at City fat cats, and I am at a loss to understand why some of them are apparently again to receive bonuses this year.” The Bishop also wrote that ‘Lancashire’s Anglicans’should respond ‘creatively’ to the credit crunch during 2009.

“The financial crisis involves us all and we are all complicit. People should think about buying Christmas presents for other people through charities and developing Christian programmes to counter the credit crunch.”

He also suggested each Church organisation should cancel one meeting during 2009, using the time to walk round the local community and seek issues that the parish could respond to.