Qualified advisers answering your
Financial Questions
call 0800 092 1245

Bankers bonuses under the spotlight again

As the news that HSBC and Barclays bank are potentially over the worst with regards to the UK recession and economic downturn, focus is now shifting towards the expected bonuses to be paid out this year. Estimates vary with regards to the exact figure which could be paid out in bonuses from the UK banking sector although the consensus is around the £4 billion mark. All at a time when UK taxpayers are struggling and UK taxpayers have on the whole bailed out large areas of the UK financial system!

When you consider that the likes of Royal Bank of Scotland and Lloyds bank in particular, two banks which received direct taxpayer subsidies, will themselves payout millions in bonuses this year as well as the likes of HSBC and Barclays, who refused government assistance, it seems that the gravy train is back on the tracks. Despite various attempts by the UK government, and more prominently by Alistair Darling, Chancellor of the Exchequer, to cut bonus payments it seems that the UK banking sector is very much "doing its own thing" and ultimately ignoring the hopes and aspirations of the UK government.

This return to significant bonuses is sure to prompt questions with regards to the UK government and the pledges which were allegedly given in return for taxpayer financed assistance. Were these agreements watertight? Are UK taxpayers being taken for a ride?

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details