Fat cats, noses in troughs and executive pay

The issue of 'fat cats' is on everyone's lips again. Bankers with their 'noses in the trough' - if that's not overdoing the ol' animal kingdom metaphors - are coming in for a lot of flak.

The people accused of being responsible for the financial mess we find ourselves in have apologised, but at the same time have defended the right of those who had performed well in their jobs to be paid a bonus.

I don't mind saying that the prospect of those who had overseen the near-collapse of the British banking system receiving a penny in bonuses sticks in my throat somewhat.

Clearly there are those who work in UK banks who don't earn mega-salaries, who have met targets set at the beginning of the year and may well deserve the bonus they are entitled to. This issue is more to do with the payouts for the Big Boys.

Similarly in the pub sector the issue of bonuses is being addressed. A number of chief executives have forgone performance-related payments in the latest set of report and accounts.

But what will be really interesting to see is if these same individuals see fit to have their basic pay frozen in the coming year. Or even cut.

True, the executives concerned have no say in their levels of remuneration.

Even so, one hopes they and their pay-setting colleagues will bear in mind the market's wider economic and commercial condition and show some empathy with their employees by not taking an inflation-busting hike in their basic package.

Besides, if I was a shareholder in one of these businesses I would be less than chuffed at the idea of the man at the top getting a hefty pay hike for overseeing the collapse in value of my investment, yield or no yield…