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Banks To Pay Out Over £7,000,000,000 In Bonuses

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http://www.bbc.co.uk/news/business-11473352

Nearly £7bn is expected to be paid out to bankers in City bonuses this year, according to research by one financial consultancy.

The Centre for Economics and Business Research (CEBR) said the level of bonus payments was now similar to pre-financial crisis levels.

The bonus pay-out is still lower than last year's total of £7.3bn, however.

It is also significantly less than the £11bn paid out at the peaking of the banking boom in 2007.

The CEBR added that the government would take a bigger share of the bonus pot than the bank employees.

That is thanks to the new 50% tax rate on income over £150,000, which comes into force this year.

City workers are expected to take home around £3.8bn, with the government taking £4.1bn - which includes national insurance contributions as well as the government's £3.2bn tax take on the bonuses.

Benjamin Williams, CEBR economist, said that finding might go some way to reducing public anger at the size of City bonuses being paid.

"It seems that the wave of public anger towards bank bonuses may be ebbing a little," he said.

"A whopping £7bn bonus payout will be easier to stomach if the lion's share goes to the nation."

So it's ok so long as some of them actually pay tax on it. :D

We're all in this together :lol:

Same old gravy train of skimming, scamming and backhanders (now financed by the taxpayer support) continues..........

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I see a lot of hoarding going on - this money isn't in the general economy, it's being used to further monopolise resources.

I may as well not have bothered learning anything at school and college, the only jobs around here seem to involve cleaning up rich people's s**t, serving drinks or working for the state apparatus. Complete with big occupational licensing\catch 22 barriers.

Even by ONS estimates, there are no more than around 500,000 jobs in the UK open at any one time. This doesn't mesh very well with 3 million unemployed plus another 5-8 million potential jobseekers that are economically inactive. Throw in austerity and you're going to get some very lopsided ratios...

Edited by HPC001

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To make matters worse, Boris, the banksters patsie was saying yesterday how we have to nice to banksters now as they are vital for the economy (the London economy in particular). He failed to add "...or else..!" :lol:

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http://www.bbc.co.uk/news/business-11473352

So it's ok so long as some of them actually pay tax on it. :D

We're all in this together :lol:

Same old gravy train of skimming, scamming and backhanders (now financed by the taxpayer support) continues..........

Funnily enough, I heard someone on TV last night say, 'Banker bashing has gone too far.'

Was doing something else at the time so can't say which prog. or who it was.

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Funnily enough, I heard someone on TV last night say, 'Banker bashing has gone too far.'

Was doing something else at the time so can't say which prog. or who it was.

Twas Boris. See above!

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To make matters worse, Boris, the banksters patsie was saying yesterday how we have to nice to banksters now as they are vital for the economy (the London economy in particular). He failed to add "...or else..!" :lol:

Boris's job is to do his best for London. That means, among other things, sticking up for bankers.

It would be a lot more worrying if such sentiments were coming from Messrs Cameron, Clegg, Osborne, etc, whose primary job is to do their best for the UK overall. But they seem to be taking a more robust view, including the banking levy their predecessors insisted was impossible.

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Boris said banking/finance is 9% of UK economy.

I'd love to see a decent research paper into what would happen if it was 5% or 2% of the UK economy.

I imagine the rest of the economy would not only do just fine, but it would thrive!

Boris is an ar5e.

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DC on Today this morning pretty much defending this. We need the tax, and the bankers to stay, blah blah blah.

I think he said that if they are paying bonuses but not lending then the situation would be 'intolerable'. When pressed on what action he would take should this intolerable situation occured, he dodged it like any good politician.

I'd love to think that if the cuts are starting to hurt and the bankers pay themselves these bonuses there might be such a public outcry that the government are forced to take action; in reality I'm sure we'll continue to just suck it up.

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Inevitable result of what happens when just about every transaction passes through their hands. It's people doing what they can get away with. The only thing that puzzles me is the question about why some people believe being able to have a free hand in the till benefits anyone else.

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DC on Today this morning pretty much defending this. We need the tax, and the bankers to stay, blah blah blah.

I think he said that if they are paying bonuses but not lending then the situation would be 'intolerable'. When pressed on what action he would take should this intolerable situation occured, he dodged it like any good politician.

I'd love to think that if the cuts are starting to hurt and the bankers pay themselves these bonuses there might be such a public outcry that the government are forced to take action; in reality I'm sure we'll continue to just suck it up.

we need the bankers to earn this to pay tax so that they can be bailed out for losses next year, otherwise, there wont be any bonuses next year and no tax to collect for the losses in 2012.

simples.

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...and so the wholesale looting of UK continues!

Nuke the square mile!

7 = 'G'

The mark of piss-taking Masonic elites!

'G' = "THE TRIAD"

refers to middle of their masonic emblem/logo 'mark'

set square/compass + 'G'

Edited by erranta

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The government is prepared to p!ss off a lot of people by removing child benefit for anyone paying higher rate tax which, apparently, will save £1 billion.

Bankers are about to be paid £7 billion in bonuses.

Hmmm.

I'm getting a wee bit fed up with all this money bankers make. What the feck do they do to make it? I can't believe there is that much profit in running a bank, looking after depositors' money and lending it out.

If they are making their money trading options, currencies, hedging and feck knows what else - what value do they add to anyone's lives apart from their own? Where does the money come from that they 'make'. Presumably it is either created out of thin air, by magic, or someone else loses it.

A few weeks ago a figure was bandied about that 4 times the world's GDP is traded on currency exchanges every 2 weeks. Does this make sense to anyone? Surely one person wins, another loses - until, presumably, all the people who are no good at trading have given all their money to the people who are good at it. But, surely, nothing has been created?

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Is there any evidence that the banks have made a net financial contribution to the UK economy in the last 10 years?

Or is just another false image and lie?

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A few weeks ago a figure was bandied about that 4 times the world's GDP is traded on currency exchanges every 2 weeks. Does this make sense to anyone? Surely one person wins, another loses - until, presumably, all the people who are no good at trading have given all their money to the people who are good at it. But, surely, nothing has been created?

Not as straight forward as that.

Person A trades and makes a success, Person B loses. Commission is made by person A and some by person B, even though they lost.

Person B trades and makes a success, this time person A loses. Comission is made by person B and some by person A, even though they lost.

That oversimplifies it but shows that money goes round and round rather than all transferred from A to B, with piggy A and piggy B taking some of it each time. It's topped up by other businesses.

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Cue: Scene with City backdrop. Nice looking chick in pin-stripe 2 piece appears with Blair-like grin. Cue: the number £7billion. Cue Chick who smiles and says in a soft voice: Its because they can.

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City workers are expected to take home around £3.8bn, with the government taking £4.1bn - which includes national insurance contributions as well as the government's £3.2bn tax take on the bonuses.

Benjamin Williams, CEBR economist, said that finding might go some way to reducing public anger at the size of City bonuses being paid.

So they rob taxpayers and reluctantly throw them back a few quid. Here go buy yourself a meal but if we have to keep giving you money we'll have to leave as our "skills" are so wanted everywhere else.

Oh thanks so much guv touch the forelock.

They are so good. Oh no they aren't just a bunch of crooks.

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I think if we started protests it'd catch on. People just need things pointing out to them. "Save one billion in child benefits whilst bankers are paid seven billion....of YOUR money in bonuses" etc.

Effective banners and we'd set the ball rolling. Anyone seriously fancy it?

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The Times take on this is that HMRC's share of the loot will be over £4B. Not sure I entirely believe that.

Edited by Sir John Steed

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Not as straight forward as that.

Person A trades and makes a success, Person B loses. Commission is made by person A and some by person B, even though they lost.

Person B trades and makes a success, this time person A loses. Comission is made by person B and some by person A, even though they lost.

That oversimplifies it but shows that money goes round and round rather than all transferred from A to B, with piggy A and piggy B taking some of it each time. It's topped up by other businesses.

Where does the 7 thousand million pounds come from that the bankers are going to get in bonuses. Who is generous enough to give them 7 thousand million pounds?

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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