UK Is Home To 73% Of Europe’s Millionaire Bankers, alongside Dickensian Poverty

The Bankers in London are accruing colossal riches not known in living memory, indeed, not seen since Victorian Times, when Charles Dickens was writing about extreme poverty among working classes. There are ten ways that The Tory Party have entranced poverty across the UK, as detailed in Labour Party: Poverty in Tory  Britain .

In 2010/11, relative child poverty was 3.6 million. The most recent figures for 2017/18 show relative poverty increasing to 4.1 million. 

 

Image 26-11-2019 at 10.38

We are seeing Dickensian levels of child poverty reminiscent of Oliver Twist.  It isn’t because the workers of our nation are not producing wealth. It is because  of the Dickensian levels of greed in Victorian Britain as David Cameron said, Britain was to return ‘to the great Victorian age.

Image 26-11-2019 at 10.43


It’s now seven years since the Think Left article, ‘This isn’t Dickens, it’s today winters’ cold, homeless and hungry‘, and in those seven years, children in relative poverty has tripled, and those living in severe deprivation doubled.

 Alongside these levels of poverty, London’s billionaire bankers and financial traders  are experiencing  astronomical levels of wealth acquisition because the conservative government and the establishment have made London the tax haven of Europe. The British media corruption will go to no ends to see it so, and why they are pulling out all the stops to prevent the Labour Party and Jeremy Corbyn from forming a government set to put an end to the Dickensian levels of poverty. It is time for real change, and that will only happen when the scandal of this vast inequality is addressed.



The video ‘London’s Billionaire’s Bankers and Financial Traders’ shows how the obscenely rich are living in affluence while alongside London’s ordinary working people, who are living in towers like Grenfell without even proper fire regulation. See how the bankers made masses of wealth by leverage  engineered by the USA.   They really are a lot of ‘…. bankers… ‘ laughing at us all. The US has their eye on our NHS. It seems their addiction for wealth is insatiable and their moral fibre non-existent. Furthermore major banks help their clients hide trillions in tax havens.


‘Neil McCarthy writes: ‘Even though people and businesses are having second thoughts about moving to the United Kingdom over Brexit, it’s still arguably the place to be if you want to make big bucks in the European banking sector. Despite the Brexit vote in 2016, UK-based bankers still earned millions a year later according to pay and bonus details published by theEuropean Banking Authorityearlier this year. The research found that 3,567 bankers based in the UK earned over €1 million in 2017 with one asset manager bringing home €40.9 million, of which the bonus was €38.3 million. To put that into perspective, it’s 1,220 times the median average salary of a full-time worker in the UK.


No other country in Europe has as many high-earning bankers as the UK. Germany comes a distant second with 390 while France is in third place with 233. In and whenBrexit does finally occur, it will be interesting to see if the situation changes, especially considering that Paris and Frankfurt are vying to replace London as the EU’s future banking hub. Even though the UK’s millionaire banking population is still growing, that growth is actually losing steam and that’s more than likely due to Brexit.

Last year, the UK added 38 bankers to the million-euro pay club. The EU’s high-earning bankers grew by five percent in 2017 despite a cap on bonuses which is likely to have also contributed to the UK’s slowdown. In 2014, an EU regulation went into effect which stipulated that a banker’s bonus could not exceeed one year’s salary. The UK was deeply opposed to the legislation, arguing that it would result in financial instability and make London less attractive. Despite the devastating impact of the financial crisis, the number of bankers getting paid €1 million or more actually increased by over 40 percent compared to 2010 and by 2017, the total number of high-earners was 4,859.’


So, if Labour are elected, will the bankers  run and take ‘their’ money? Looking at the above infographic where will they go?

Always remember that wealth is produced by the workers, and the bankers have sucked out that wealth like parasites, and this has to come to an end. I cannot imagine how our people can survive a worsening situation than the one we now see,  if the Labour Party are not elected  to govern the UK in December.

I recall Cameron saying how wonderful the Victorian days were. I know my ancestors and most people like them did not find it wonderful living in the back-to backs in appalling living conditions in Victorian England.  I recall Theresa May saying from the government benches in the House of Commons that “they” would not let Labour govern. I  hope democracy will prevail. The Establishment will do everything they can do to continue with the status quo.

We will do everything we can do to effect real change. There are more of us. We must all go and Vote for The Labour Party on December 12th for our future, our loved ones’ futures, for our communities and for our country. That is real patriotism.

Major Banks Help Clients hide trillions in Tax Havens

 

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