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Barclays bank set to increase staff salaries

Barclays bank is headed for controversy as the UK government and regulators watch over the bank with news that staff salaries at Barclays Capital Investment will be increased across the board and backdated to June 2009. This is a direct response to the UK government's attempt to limit bonus payments in the short to medium term although this does not mean that Barclays Capital Investment will not be paying bonuses as well!

Information has been leaked from the company by those "familiar" with the situation and it would appear that the story does stack up and is likely to be confirmed in the days and weeks ahead. This would be another unwelcome distraction for the UK government amid signs that various attempts to limit salaries and bonuses within the financial sector are falling on deaf ears. It seems the louder the UK government and the UK regulators shout the more money appears to be pouring out of banking operations in the UK towards their staff.

This comes just 24 hours after the Royal Bank of Scotland, a company majority-owned by the UK government, expressed concerns about limiting bonuses amid the possibility of losing high income producing staff in the short to medium term.

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