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Gordon Brown backs plans to publish banking remuneration figures

Gordon Brown has today backed plans to force banks in the UK to reveal the remuneration packages of their top traders outside of the board of directors. The move is designed to inject greater transparency into the UK financial sector and also ensure that shareholders receive better value for money. But will this actually make it to UK law?

Despite the fact that Gordon Brown and the rest of the government seem adamant that remuneration packages for the banking industry will be made public, there are sure to be calls for this to be rolled out to other sectors. Even though many people blame the banking industry for the ongoing recession in the UK, and the worldwide problems, this is only the tip of the iceberg and while the financial industry is very powerful it is only one of a number of important sectors in the UK.

There are murmurings of victimisation from many within the UK banking industry as the sector seems to be the number one target for the government, regulators and the public. When you consider that the chief executive appointed to look after Royal Bank of Scotland, shoehorned in by the government, stands to gain potentially £10 million over the next three years there is a case for hypocrisy.

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