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In the 1960s one of the great debates in the press and at the workplace was the ‘brain drain’. This was the exodus of British talent, particularly from the academic, scientific and technical sectors, usually to the United States. The fear was that country was being drained of its most skilled people which threatened its status as a major innovative, industrial power. The brain drain was real, and it was fuelled by high taxation and lack of opportunity in the UK. (more…)

It seems that London’s dominance as the premier global financial centre is under threat following the Chancellor’s decision to tax bankers’ bonuses. Banks are apparently under significant pressure to move their operations to other parts of the world, including Zurich, New York and Hong Kong, whose tax regimes are more in their favour. This raises serious questions about the banks’ relationship with, and commitment to, many of their employees. (more…)

One can hardly open a newspaper or listen to the news at the moment without coming across something about people who earn lots of money. It started, predictably enough, with bankers and their bonuses, has now moved onto senior public sector staff and will no doubt soon focus on bosses in private sector companies. Public resentment at those who earn far more than the average is nothing new. The question is whether the way that politicians and the media are handling the debate is constructive. (more…)

Not everyone who works for a bank bears responsibility for the credit crisis. And not everyone who works for a bank earns six or seven figure salaries. Many bank workers earn less than the national average and rely on receiving a bonus to maintain their living standards. You may be one of them. And now that the media are treating banking bonuses as their moral outrage of the year, you may well be worried about your own financial security. What should you do?

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