Wednesday, December 19, 2007

Greed gets in the way of City giving - Telegraph

Greed gets in the way of City giving - Telegraph: "Published just as the first City bonuses have been unveiled and as Christmas approaches, the report shows that if City workers (about one million of the 37m strong workforce) gave 5pc of their salary, or £4bn a year, to charity, London would match New York in terms of philanthropy.

The report argues that while bonuses are expected to be 16pc lower this year at £7.4bn, due to the credit crunch, they remain 400pc above levels 10 years ago, allowing for a considerable amount to be devoted to charitable causes."

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