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:
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.
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I knew we attracted rich bankers, but the scale compared to other EU countries is really shocking. As you say, these people mostly add very little to the country and are likely to pay very little in tax. Obviously, they are attracted by the current tory policies which will benefit them hugely. The consequences on the housing situation alone are disastrous.
It would seem reasonable to surmise from this data that the next UK industry in line for decimation by the parasite financier class after the steel industry will most certainly be rope making.
I have some old rope – but I can’t seem to make any money out of it!!
What am I doing wrong?
Normally you would need an old style lamp post, the type with two metal arms sticking out at right angles about two thirds of the way up. Unfortunately the crafty sods have replaced all of these over the years (although I do know the location of an old fashioned sewage lamp that was still standing two weeks ago).
However, all is not lost. The bottom step(s) of any telegraph pole, whilst not protruding out as far as the old fashioned lamp posts, provides a suitable alternative. You might not actually make any money but it will prevent further losses.
Alternatively, you could just hang onto it and wait for the market to pick up, making money by hiring it out following the coming rope shortage.
So – we DO have an American style ‘democracy’ after all!!
A plutocracy in matter of fact. And we seem to be an offshore haven for the EU by the look if things.
Yet we can’t provide jobs to the many who need them or decent wages or benefits.
Well, well. I know what I’m thinking.
Meanwhile at the other end of the income scale, where people do not live in cloud cuckoo land, even food banks can no longer cope with the increase in demand and lack of charitable funding.
“The overarching reason people come to us is that they don’t have sufficient money to purchase food. Often that is because of changes to the welfare system. We have people who walk three of four miles to actually come to our distribution centre.”
And Mr King said he was worried about the future state of services with further cuts to come. He said: “The fact that Employment Support Allowance [ESA] is going to be cut. How many of us would be able to survive if we lost 30 per cent of our income?”
http://www.independent.co.uk/news/uk/food-bank-newcastle-west-end-faces-closure-50000-esa-disability-cuts-a6963486.html