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Bank charges: Unjust bonuses should instead be spent on business growth, says TUC

In response to the news that both Goldman Sachs and JP Morgan are increasing the 2012 bonus pot for their employees, the Trades Union Congress has called for better ways to spend the cash.

The organisation's general secretary Frances O'Grady explained how people are suffering real terms pay cuts as a result of the economic strife, while the institutions that caused it are giving six figure bonuses and huge pay rises to their staff.

"The billions wasted on undeserved bonuses could be far better spent on what banks are supposed to do - supporting real business growth," he said.
"The government should force banks to get back to serving the wider economy, rather than simply serving themselves lavish rewards."

This could help bring the economy back into growth, boosting the pay for everyday people, ensuring they are able to adequately afford all their outgoings, such as bank charges and utility bills.

Charles Baker
Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801524295-ADNFCR

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