Knighthoods and bonuses are the sideshow

While the public draw satisfaction from the removal of honours and bonuses from those held not to merit them, this is a sideshow to much more serious underlying issues.

(Sir) Fred Goodwin, having presided over massive losses at RBS which have cost us dear in cash and jobs, may well not merit a handle to his name that must often guarantee him the best table in the restaurant, but it has to be remembered that he has broken no law, committed no offence, contravened no agreement.

He has simply enforced the terms of his contract. The same goes for current RBS Chief, Stephen Hester, whose pay packages are estimated at £11 million since 2008.

His "voluntarily" rejection of his current bonus may please all whose incomes are falling and/or jobs evaporating. But he has broken no law, nor contravened any agreement.

The issue underlying this is transparency. We are told that since bailing out RBS we are shareholders. It's true that we have to rely on the media to inform us about our bank, but Government insists that shareholders should control chief executive remuneration.

Stop anyone in the streets of Gloucester, Glastonbury, Totnes or Truro and ask them the names, identities or backgrounds of the body that agreed Mr Hester's generous terms and you will be justifiably be met by a blank stare.

How much do we know about the inner workings of this issue?

Behind the celebratory trumpeting lie deeper issues of accountability and decency that are all too easily concealed from the public. Often they need concentrated effort to uncover but the uncovering often seems more tedious and less exciting than the triumphalism of the headlines.

The much-maligned press corps are among the instruments that serve us in this investigatory process, along with public-spirited individuals, charities like Liberty, and outspoken members of parliament. Only constant vigilance will keep us abreast of the underlying issues.

Matters are even worse when it comes to Ed Lester, head of the Student Loans Company who has been allowed to operate as full-time CEO without paying tax at source. While the rest of us have PAYE deducted and are unable to offset any of our expenses against income (including travel to work), Mr Lester has apparently been allowed to operate as if self employed and charge off his travel and other expenses, saving him an estimated £40,000 a year. All this with ministerial approval and the connivance of the Inland Revenue! Who will resign? Don't get too excited. Government is essentially secretive in all it does. Secrecy leads to inconsistency and injustice. By what criteria has Fred Goodwin lost his knighthood when there is at least one member of the Lords who has done time for perverting the course of justice, but continues to be able to make laws for the rest of us?

By what criteria are honours awarded anyway? Why do ambassadors and permanent secretaries get them for nothing more than occupying well-paid and enviably interesting jobs? Why are "lowly" honours awarded to those who genuinely serve the community, while the toffs get peerages and knighthoods? Ask, ask, and ask again. And don't stop asking.