Brendan Paul Barber - General Secratary, Trades Union Congress
Pay and bonuses in the British banking sector should no longer be subject to corporation tax breaks.
That is according to the Trades Union Congress (TUC) - a body with more than six million members - which has called on the government to intervene and change the current rules relating to this law.
In a report entitled Bonus Season, the trade union stated that by abolishing corporation tax relief for people earning more than £262,000 - of which there are 29,000 in the banking and financial industries - the administration could raise around £1.7 billion ($2.7 billion) annually.
This, the TUC stated, could then be used to help the Conservative-Liberal Democrat alliance go about resolving the country's deficit problems in the wake of the recession.
Brendan Barber, general secretary of the organisation, commented that while the rest of the population are "still paying a heavy price" after the downturn, "banks have gone back to business as usual with eye-watering bonuses for their top staff".
By Gary Cooper
