Bankers’ bonuses – 100 times higher than public sector

Bankers’ bonuses were more than a hundred times higher than public sector workers over the past year and grew at double the rate of those of the average UK worker, official figures have showed.
The average bonus for bankers and insurance workers was £13,300 between May last year to April, while that of public sector workers such as nurses and teachers was the lowest at around £100 on average.  The figures are likely to prompt further calls for stricter rules […]

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Gates remain open for scandals

THE UK faces the risk of further banking scandals, unless action is taken to increase competition in the lending market for small and medium-sized businesses, according to a Government adviser.
Lawrence Tomlinson, the Yorkshire entrepreneur and Government adviser who compiled a dossier of complaints against RBS’s turnaround division, made the comments in response to reports that the Government is going to urge the big banks to increase the supply of SME (small-and-medium-sized business) loans.
The report in the Sunday Telegraph said […]

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    SMEs still reluctant to switch banks despite continued finance concerns

SMEs still reluctant to switch banks despite continued finance concerns

16% feel that difficulties in obtaining access to finance from their bank is an ongoing worry, research shows.
Despite the ongoing concerns over access to finance, charges and calling in loans, small business owners remain reluctant to switch banks according to the latest research from national business group the Forum of Private Business.
The Forum’s banking and finance survey indicates that just over half of small businesses surveyed were content with their current banking arrangements and thought they offered good or […]

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    Budget Report: ‘Access to finance remains a problem for SMEs’

Budget Report: ‘Access to finance remains a problem for SMEs’

In its report into the 2014 Budget, the Treasury Committee has reiterated the difficulties SMEs face when seeking finance – something which is preventing some businesses from reaching their full potential and hindering the economy.
Robert Wood, Chief UK Economist at Berenberg Bank and witness for the Committee, said: “very poor availability of finance over the past few years has almost certainly prevented some rapidly growing firms from expanding.”

It’s a view shared by fellow witness, the Confederation of British Industry […]

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Vince Cable – Bankers’ Pay Still Extraordinarily Large

Vince Cable has issued a stark warning to Britain’s leading boardrooms that they need to crack down on bonuses to restore public trust and avert the threat of fresh legislation to limit executive pay.

The business secretary fired off a warning to the 100 biggest UK-listed companies about the damage big pay deals can have on their image, before Barclays’ annual meeting on Thursday, where protests about the bank’s £2.4bn bonus pot are expected to be registered by disgruntled shareholders.

Cable told […]

Federation of Small Businesses Chief on Scandal Hitting Bank SME Lending

The Federation of Small Businesses and the British Chambers of Commerce have teamed up to investigate the state of the banking industry’s lending practices and small to medium enterprises.
The Business Banking Insight programme (BBI) will ask micro companies and SMEs to share their experiences to provide insight into the best banking services available across the UK. The first set of results will be published in May.
Speaking to IBTimes UK, FSB’s National Policy chairman Mike Cherry reveals how a lot […]

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