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Sat 5th Mar 2011
Added on Tue 1st Mar 2011, 11:21pm — last updated Thu 24th Mar 2011, 7:38pm
Join us in the ‘dole queue’ outside Barclays to highlight the injustice of the cuts while bankers still get massive bonuses, and paying next to nothing in tax. Meeting Thursday 3rd February at crumblin cookie.
Becoming the new Barclays boss, Bob Diamond - a champion of casino banking - walked away with a pay packet of £11.5 million. This sum is 1000 times what the average Barclays cashier earns and would pay for the salaries of 542 nurses or 380,000 Education Maintenance Allowances. Diamond now plans to accept a bonus of £9million - one of the largest in the world. Barclays have just paid £3.5bn in bonuses, with average pay per employee in the investment banking division rising to £236,000 – that's ten times the UK's average salary. It was this greed, and the recklessness of the banks, that caused the economic crisis. Yet the government are making ordinary people pay the price. David Cameron himself has said that the
cuts will change Britain's "whole way of life".
Barclays has revealed it paid £113m in corporation tax to the UK in 2009, 2.4% of its £4.6bn annual profit. Welcome to the Age of Austerity but don’t worry because we are all in this together. We will not pay for their crisis. See you on the high streets.