Friday 23 September 2022 12:35 PM Angry Britons quick respond to the Chancellor scrapping banker's bonus cap by ... trends now
Angry Britons have quickly waded in on the Chancellor's announcement to axe the cap on bankers' bonuses by sharing memes of notorious fat cats including Gordon Gekko.
Chancellor Kwasi Kwarteng set out a series of measures in his so-called mini-budget on Friday, including abolishing the top rate of income tax for the highest earners, axing the cap on bankers' bonuses, and adding restrictions to the welfare system.
From April, the 629,000 earners getting more than £150,000 a year will no longer pay the top income tax rate of 45% and will instead pay the 40% applicable to those on over £50,271.
But the announcement has been met with backlash amid fears it will see the return of a 'culture of greed' in the City as Britons suffer from a deepening cost-of-living crisis.
People immediately began sharing memes about bankers and high earners celebrating the announcement - including one showing fictional villain of the popular Oliver Stone film 'Wall Street,' Gordon Gekko, who has become a cultural symbol for greed.
Another shared a luxury holiday photo with the caption 'what a time to be either a millionaire or billionaire in the UK. Waiting for that trickle down money to hit my bank account.'
Britain's Chancellor of the Exchequer Kwasi Kwarteng unveiling an anti-inflation budget plan at the House of Commons today
Angry Britons have quickly waded in on the Chancellor's announcement to axe the cap on bankers' bonuses by sharing memes of notorious fat cats including Gordon Gekko
Another wrote 'bankers in the city right now' and shared a meme of three suited men dancing.
One meme showed a skeleton sat on a bench with the caption 'still waiting for banker's bonuses to trickle down'.
The controversial decision will remove the limit on bankers' annual pay-outs - which has been capped at 100% of their salary, or double with shareholder approval - introduced by the European Union after the 2008 financial crisis.
Mr Kwarteng said the move would encourage global banks to create jobs, invest, and pay taxes in the City.
People were quick to hit out at the announcement to axe bankers' bonuses by sharing memes on the situation
In a raft of major financial announcements on Friday, Mr Kwarteng brought forward the planned cut to the basic rate of income tax to 19p in the pound a year early to April and reduced stamp duty for homebuyers.
He argued tax cuts are 'central to solving the riddle of