Big British banker bonuses

This video from the USA is called Crazy Facts On Income Inequality, Bank Bonuses.

By Luke James in Britain:

Bankers get billions as public sector ails

Tuesday 20 August 2013

Bankers are enjoying a bumper £14 billion bonus pool while public-sector workers have pocketed “close to zero,” the Office for National Statistics revealed today.

Finance and insurance sector fat cats took home an extra £11,900 on average between May 2012 and April 2013 as bonuses soared by 4 per cent.

Tory Chancellor George Osborne helped seal the increase by warning bosses to defer bonus payments until after he’d slashed the top rate of tax from 50 per cent to 45.

Meanwhile public-sector workers received less than £100 on average and TUC general secretary Frances O’Grady was clear that “the return of big bonuses shows Britain is booming for the super-rich.”

She hit out at Mr Osborne for showering bosses “with an extra gift worth tens of millions of pounds, courtesy of the taxpayer” by giving advanced notice of his tax cut.

And Ms O’Grady added: “The shape of Britain’s recovery looks increasingly like one where the same old elites hog the gains, while ordinary workers are expected to take declining living standards on the chin.”

The average bonus for private-sector workers stands at £1,700 but the ONS stressed that it makes up a higher proportion of employees’ total pay.

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• Bankers cash in after bonuses are held back to take advantage of George Osborne’s cut in top rate of tax (dailyrecord.co.uk)
• Bankers grab £65million delaying bonuses to beat tax: Payments doubled in April (dailymail.co.uk)
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