Indebted Britons hurt by banks, survey shows

Banks have been derided for their role in the economic crisis in a new survey that has revealed that, rather than creating jobs for people, they increased public debt and heightened unemployment levels.

This is according to a study by nef (the New Economics Foundation) – which revealed that financial institutions take £7 from Britons for every £1 that they make.

Entitled A Bit Rich?, the report went on to note that people like childcare workers and waste recyclers are more beneficial to society than tax accountants and advertising executives.

“We found that some of the most highly paid benefit us least, and some of the lowest-paid benefit us most,” it concluded.

Nef, which is an independent think-tank dedicated to promoting economic health, was established in 1986 by the directors of The Other Economic Summit.

It brings together analysis and debate and often involves local people, working with those based in the UK and internationally.


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