‘Eye popping’ City bonuses highlight scale of UK inequality — tax justice group

Bonuses paid by financial firms since the onslaught of the financial crisis will surpass £100 billion in 2015. Campaigners warn that Britain’s finance sector is continuing to breed inequality, while ordinary taxpayers clean up the mess.

Following the start of this year’s bonus season, activists from the Robin Hood Tax campaign analyzed data from the Office of National Statistics (ONS).

Their research indicates that bonuses paid out in Britain’s finance industry have hit £91 billion since 2007, and will most likely rise to £100 billion by the close of March.

Financial justice campaigners say the figure equates to £1,500 for every man, woman, and child in the UK.

Current research indicates that a small proportion of investment bankers earn more in twelve months that the vast majority of Britons do in a lifetime. In 2014 alone, Britain’s finance industry paid staff £15 billion in bonuses.

David Hillman, who represents the Robin Hood Tax campaign, said the sheer sum of money paid out in bonuses by financial institutions since 2007 sheds light on “two-tier Britain.”

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