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Sir David Walker reveals high earners in the city

Despite the fact that the UK government has backtracked on a promise to make each and every bank in the UK publish the names of employees earning over £1 million year, Sir David Walker has let it be known that his investigation show that over 1000 city bankers earn in excess of £1 million a year. So what was the point of issuing this information?

Despite the fact that the UK government and the UK regulators have decided against forcing UK banks to publish all salary packages for those high earners in their establishment, there still appears to be a program to "demonise" the city. The government is very much attuned to the way in which UK voters have turned against bankers and the city in general and is looking to milk this as much as possible as we approach the next general election.

However, we have seen so many promises from the government and the regulators regarding banker's bonuses and banker's salaries, the majority of which have been broken, that in many ways this latest move is just "water off a ducks back". Even though there is no doubt that the UK government has the regulatory power to make publication of large salaries and large bonuses standard across the industry, there seems an unwillingness to upset the banking applecart.

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