Barclay’s chief Bob Diamond announced that their investment bankers average pay rose up to £236,000 from £191,000 last year despite the cutting of its bonus pool in line with the Project Merlin deal. The bank admitted that the amount of revenue that they are using to pay its investment bankers rose to 43% from 33%. Reportedly, they have a current profit of £6bn.

Unions such as UK Uncut and Unite have angrily demonstrated over the said boosting bonuses to investment bankers and pay-outs for top bankers. They argued that this could mean that the gap between the lowest employee and the executives would be a lot wider. “The Barclays decision to award these mammoth bonuses for their top bankers is shameful. These bonuses undermine any claim by the government that there is fair pay in banking. Those at the top of the big banks are paid more than 100 times the pay of those workers at the lowest level. These excessive rewards widen the gap between those at the top and ordinary workers struggling to pay their bills” commented Unite General Secretary.

Furthermore, this suggests that Barclay profits excessively at the expense of taxpayers, customers, investors and corporate clients. Hence, the prevalence of mis sold mortgages. Through these hidden subsidies, Barclay will still be able to increase their bonuses as high as they want even with the bonus pool cut.

The case on unfair bank charges due to mis sold mortgages as of the moment is unstoppable. Banks will forever find ways on how to increase the profits through hidden subsidies. Bankcharges.com has been at service through years helping financially crippled individuals to reclaim bank charges due for them.