#ThoughtForTheDay
Bonuses in the financial & insurance sector have hit a record high, growing by 27.9% over the last year, while average wages in the same period grew by just 4.2% - nearly £6BILLION was paid out in City bonuses in March alone.
#LevellingUp #CostOfLivingCrisis
Bonuses in the financial & insurance sector have hit a record high, growing by 27.9% over the last year, while average wages in the same period grew by just 4.2% - nearly £6BILLION was paid out in City bonuses in March alone.
#LevellingUp #CostOfLivingCrisis
“There is no justification for such obscene City bonuses at the best of times – let alone during a #CostOfLivingCrisis. While City executives rake it in, millions are struggling to keep their heads above water.” - Frances O’Grady, TUC general secretary.
theguardian.com/business/2022/…
theguardian.com/business/2022/…
“Working people are at breaking point, having been left badly exposed to soaring bills after a decade of standstill wages & universal credit cuts. Ministers have no hesitation in calling for public sector pay restraint, but turn a blind eye to shocking City excess.”
#JoinaUnion
#JoinaUnion
The IFS says City bankers, fund managers & other finance workers accounted for almost a third of all employees in the top 1% income bracket, & #inequality in Britain risks being driven up by the biggest boom in City bonuses & pay since the 2008 crash.
theguardian.com/business/2022/…
theguardian.com/business/2022/…
We should not be surprised that Government Ministers, a vast, very well-funded global network of free-market think-tanks, & the UK's hugely influential foreign/non-dom billionaire-owned press & broadcast media stokes a culture war while concealing basic financial truths from us:
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