Taxpayers to foot redundancy bill

THE banks have already committed all the citizens of this country to such massive debts that we may eventually end up defaulting in which case there simply may not be cash to pay teachers, nurses etc.

What an appalling vista.

Now one of the major banks has stated that there will be significant staff reductions announced early in 2011.

Whilst the average staff members in this bank were not responsible for the disastrous strategy their employers embarked on, they will now have to pay the ultimate price of losing their jobs.

Considering their employers are effectively insolvent it will mean that any redundancy package now offered will, in effect, be funded by the taxpayer.

I can’t help but wonder if those who have lost their jobs, and only got their statutory redundancy entitlement, will feel about their taxes going towards funding others?

Fergus Mulcahy

Churchfield Close

Churchfield

Cork