HSBC. Five senior executives due to share £33.4m Pic credit: BBC
CROSS POSTED ON BYLINE.COM
The day after the general election the House of Commons library released a flood of papers which had been held up because of purdah rules until after the result was known.
One of the most revealing papers was one on Banking Executives’ Renumeration in the UK. It drew on two sources – Britain’s submission ( required by EU rules ) to the European Banking Authority and British sources such as company reports and details from the banks themselves about long term incentives for senior executives.
The facts revealed in the annexes to this report confirm what a lot of people have suspected but have not always been able to prove. There is-a widening gulf between the top and the bottom that has been going on during the fiercest period of austerity which has seen real…
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