By Maximilian Clarke
FTSE executives, traders and financial services workers are paid too much and teachers paid too little, a survey of 515 London-based financial services professionals has revealed.
The survey, carried out by the St. Paul’s Institute, also revealed that the majority of respondents conceded that the ‘Big Bang’ financial market deregulation of 1986 has led to ‘less ethical behaviour’ in London’s financial heart.
The survey results will vindicate the Occupy LSX protesters, who bemoan the UK’s increasingly polarised pay distribution, particularly at a time of rising unemployment and falling disposable incomes among the UK’s most deprived.
"Action is a crucial goal of the protest camp outside St Paul's Cathedral,” commented Revd Michael Hampel, Canon Precentor of St Paul's Cathedral. “We hope that the telling findings of this report can provide a solid foundation for future engagement and highlight issues where action might be of mutual concern for all sides of the debate."
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