THE INDEPENDENT ON SUNDAY: As politicians shift ground on high earners, City workers admit public sector gets raw deal
British bankers have admitted that they are paid too much, a report into moral standards in the City of London will reveal tomorrow.
A survey of 500 workers in City financial institutions, carried out for the Christian think-tank St Paul's Institute, found that "a substantial number" believed they were overpaid compared with other professions – particularly frontline workers including teachers and, most of all, nurses.
The results will fuel continuing bitterness towards the industry over its culpability for the financial crisis and its apparent failure to rein in huge salaries and bonuses . Last night The Sunday Times reported the publicly owned Royal Bank of Scotland is planning to pay its investment bankers about £500m in bonuses.
The Archbishop of York, Dr John Sentamu, yesterday joined the attack on bankers' pay, claiming excesses in the financial sector had helped to create huge inequalities in wealth, "demonstrating how scandalously unfair our society is". » | MATT THOMAS, BRIAN BRADY | Sunday, November 06, 2011
