Nurses vs. Bankers at Barclays annual meeting

Tug of war - Robin Hood Tax vs. Banker

New figures show that UK taxpayers effectively subsidise the pay of each and every investment banker at Barclays to the tune of £420,000 a year – an amount that could pay the annual salaries of 17 nurses.

Investment bankers are enjoying this subsidy despite Barclays reporting a statutory pre-tax loss of £475m yesterday and continuing to hand out excessive remunerations. Chief Executive Bob Diamond received £17.7 million in salary, bonus and benefits despite admitting his bank’s performance was “unacceptable”. This was a key agenda point at the meeting where shareholders will vote on bank’s pay policies, with a majority expected to vote against the pay deals.

And so today the Robin Hood Tax campaign headed to the Barclays annual meeting to get our message heard.

Check out David Hillman, spokesman for the Robin Hood Tax campaign, being interviewed for BBC News 24 explaining how ‘the financial sector has over decades been making too much profit. It has been paying itself too much remuneration – they should be taxed more, and that money should be used to protect jobs here and save lives abroad

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