Barclays increases bonus pool by nearly 30% as calls grow for UK bank tax

UK lenders are facing mounting pressure to contribute to the country's finances as the leader of the Trades Union Congress (TUC) has called for Barclays to pay more tax following its massive second-quarter profits. The bank's £3.3 billion profit has sparked outrage, particularly as it has increased its banker bonus pool by nearly 30% to £1.3 billion in the first half of the year. The significant rise in profits has fueled demands for a tax raid on UK lenders to help fund Labour's spending plans, led by Mayor of Greater Manchester Andy Burnham. As the UK grapples with economic challenges, the TUC's demands have raised questions about the fairness of large corporations profiting while ordinary citizens face financial struggles.

TUC leader says lender’s ‘bonanza’ quarterly profits of £3.3bn mean it ‘can easily afford to pay more tax’Business live – latest updatesBarclays has increased its banker bonus pool by nearly 30% after a rise in second-quarter profits that has fuelled calls for a tax raid on UK lenders to help fund Andy Burnham’s spending plans.Fresh corporate filings released on Tuesday showed the bank put £1.3bn towards its bonus pool for the first half of the year. That figure, which includes annual and deferred bonuses, was up from £1bn last year. Continue reading...