The UK is home to more than 75% of Europe’s top paid bankers

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As the TUC’s Touchstone blog has reported:

In 2014 the UK was home to 2,926 €-millionaire bankers, according to new report published by the European Banking Authority. Moreover the UK figure is up 40% on last year, when there were 2,086 €-millionaire bankers.  A Guardian report discusses the figures in more detail – here.

Here’s the full league table:

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As Geoff Tily at the TUC notes:

So in 2014 the UK accounted for 3,000 of 4,000 or three quarters of €-millionaire bankers, when in 2013 it was 2,000 of 3,000 or two thirds.

That is economic deadweight distorting the UK economy, its politics and its democracy to no benefit at all to the vast majority of people in the country. And, as the stats show, you can do very well without them.

No wonder this country has so many economic difficulties.

Oh, and please don’t try to justify this by saying they pay so much tax: that’s because they extract so much form the economy in the first place and may be no compensation at all for the costs they impose.