In response to Bob Diamond's reported £2m payout - “it exposes the financial sector's warped sense of entitlement"

For immediate release:

In response to Bob Diamond's reported £2m payout, David Hillman, spokesperson for the Robin Hood Tax campaign, said:

“It exposes the financial sector's warped sense of entitlement that a seven digit payoff for Bob Diamond's failure is seen as acceptable. It would take the average Briton a lifetime to earn the same amount.

“If banks can afford to dole out lottery-sized payouts for failure, they can afford to contribute more back to our economy and society.”

Contacts:

Simon Chouffot: 07725 879 580 simon@robinhoodtax.org.uk

Jon Slater: 07876 476 403 jslater@oxfam.org.uk

Notes to editors:

Reports have suggested Bob Diamond's payoff will be £2m. On the average UK salary (in 2011) of £26,200 it would take 75 years to earn the same amount.

The Robin Hood Tax campaign is a coalition of 115 UK organisations including Barnardo’s, Comic Relief, Oxfam, Friends of the Earth, Stamp Out Poverty and the TUC:www.robinhoodtax.org.uk

The campaign has more than 250,000 supporters and is endorsed by over 1,000 economists and politicians from all main political parties.