Meanwhile, thenews that the head of HSBC is to be given a £2 million bonus days after the chief executive of Lloyds TSB was awarded £1.5 million was proof that a 'culture of entitlement' was alive and well in the City, the TUC said.
The banking sector was continuing to hand out huge bonuses as if they were 'pocket change' and the UK government should be following the example of Switzerland by making a concerted effort to curb executive pay.
News early in March that Barclays paid 428 workers £1 million or more last year was described by the TUC as 'obscene'. Barclays was acting 'as if the financial crisis never happened'.
More on HSBC @
http://www.tuc.org.uk/economy/tuc-21984-f0.cfm
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