Fat cat bank bosses earn more in two days than typical workers do in one year
The TUC and others are hoping Chancellor John Healey resists lobbying from the banking sector and announces a Budget windfall tax(Image: AFP via Getty Images)
TL;DR
- The TUC claims top executives at Britain's big four banks earned an average of £8.9 million last year, far exceeding the average worker's annual salary.
- The union body is pushing for a windfall tax on banks to help fund a cut in energy bills for households.
- Banks have seen a surge in profits, with the big four reportedly making over £1 billion a week this year.
- While some bank leaders deem a tax hike 'bearable,' the banking sector argues it could harm the UK's competitiveness.
- The TUC estimates that reversing a previous tax cut on banks could raise £9 billion over four years.