This is an interesting article, reported in the Guardian. It’s a MUST READ article in my view. Check it out!
As I read the article, a number of thoughts came to mind including:
- Banking remuneration out of line with other sectors
- Banking remuneration protected from austerity
- Banking remuneration is not correlated to the effectiveness of the banking sector, especially in financing small businesses
- UK too dependent upon the financial services sector
- This leads me to an interesting open question:
How should the UK Government adjust policy given that the UK has more than 2,400 bankers earning EUR1m+?