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Singer fed up that more isn't being done to curtail investment bankers bonuses

Billy Bragg has taken his protest against banking bonuses to the home of the Royal Bank Of Scotland in Edinburgh.

The singer, who’s Facebook group NoBonus4RBS now has over 30,000 members, is refusing to complete his tax return until Chancellor Alistair Darling imposes a £25,000 bonuses cap for chiefs at the bank.

Speaking at RBS‘ former headquarters in St Andrew’s Square, Edinburgh, Bragg warned that unless action is taken, bankers could usher in another economic downturn, reports BBC News.

“I’m doing it to draw attention to the fact the bankers seem to think it’s business as usual now. They’re starting already to talk about paying the kind of excessive bonuses that got us into all this trouble in the first place, whilst the rest of us are being softened up for public service cuts.”

Bragg added: “Considering that this hole in the public purse has been caused by the bailout for the banks, the bankers should be leading the way in making economies.”

Now 84 per cent of RBS is now owned by the taxpayer, following a series of public bail-outs. The company is expected to pay millions in bonuses in 2010.