Sharp rise in bonuses shows Britain is booming for the super-rich, says TUC

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date: 20 August 2013

embargo: For immediate release

Commenting on the latest figures for bonuses during 2012/13, published today (Tuesday) by the Office for National Statistics (ONS), TUC General Secretary Frances O'Grady said:

'The return of big bonuses shows Britain is booming for the super-rich. While ordinary people suffer the longest wage squeeze in over a century, those at the top have seen bonuses rise by a stonking four per cent.

'Not content with giving the super-rich a tax cut, the Chancellor has also showered them with an extra gift worth tens of millions of pounds, courtesy of the taxpayer, by giving them plenty of notice to defer their bonuses and avoid the 50p tax rate.

'The shape of Britain's recovery looks increasingly like one where the same old elites hog the gains, while ordinary workers are expected to take declining living standards on the chin.'

NOTES TO EDITORS:

- The ONS figures are available at www.ons.gov.uk/ons/rel/awe/average-weekly-earnings/index.html

- The TUC's Campaign Plan can be downloaded from www.tuc.org.uk/campaignplan

- All TUC press releases can be found at www.tuc.org.uk

- Congress 2013 will be held at the Bournemouth International Centre from Sunday 8 September to Wednesday 11 September. Free media passes can be obtained by visiting www.tuc.org.uk/media_credentials and completing an online form. Applications must be in by noon on Wednesday 28 August. Any received later than that will be processed in Bournemouth and will cost £75.

- Follow the TUC on Twitter: @tucnews

Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: [email protected]
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: [email protected]

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