CITY BONUSES will hit more than £7 billion this year, according to a new survey published today, the same day experts predict lower income families will be forced out of central London by government benefit cuts.
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“It is like something from the 19th century,” said a London housing official.
The bonus figure, produced by the Centre for Economics and Business Research, is the equivalent of every man, woman and child in Britain handing £100 to a small group of the richest people in the world, a group many blame for the current economic troubles.
Meanwhile, the government has announced plans to hit 50,000 of the country’s least well-off families with a near £100 a week cut to their income, mainly by slashing housing benefit.
For London, this is likely to mean a mass emigration from inner to outer boroughs as people seek cheaper housing.
“I have been in housing for 30 years and I have never seen anything like this in terms of projected population movements,” the anonymous housing official told The Guardian.