Capitalism’s legitimacy will disintegrate if a tiny elite are allowed to capture the rewards of growth for themselves.
Tag Archives: bankers’ bonuses
The banks are using their political influence to defend the interests of their highest-paid employees
This week’s announcement by HSBC of the extent to which they are circumventing European Union rules limiting bankers’ bonuses provoked more than usual outrage.
In 2010 and 2011, just 2,500 top bankers earned enough in bonuses to bring all 750,000 Londoners currently on poverty wages up to a living wage.
Does anyone deserve to make sums of money so far in excess of what the majority of UK workers earn?
The Office for Budget Responsibility (OBR) yesterday made it official: high earners delayed their bonuses to take advantage of Cameron’s top rate tax cut.
Money laundering, forgery, fraud, corruption – if you do the crime, you do the time. It seems that’s the case everywhere but banking.
This is one conclusion arrived at after a year on the Parliamentary Banking Standards Commission (PBSC) examining the standards and culture of the industry. Why is it an off-shore island seemingly not subject to the normal rules of society?
The 100 best-paid chief executives of British companies were paid £4.3 million each on average last year, an increase of 13 per cent on 2011, research has found.
Despite record fines for everything from mis-selling to Libor rate fixing and even money laundering, it has been another season of bumper bonuses. Yet against this backdrop our chancellor finds himself in Brussels arguing against a plan to rein in excessive bonuses.
Left Foot Forward looks at the pay gap between best paid and worst paid at some of Britain’s best known firms.