Bankers should give their bonuses to charity, says Sir Stuart Etherington

Chief executive of the NCVO also backs Robin Hood Tax campaign

Sir Stuart Etherington
Sir Stuart Etherington

Sir Stuart Etherington, chief executive of the National Council for Voluntary Organisations, has called on bankers to give their bonuses to charity.

He said in a statement that a rise in giving by the wealthy would provide vital support to the sector at a time when it is experiencing funding cuts alongside an increase in demand for its services.

"Bankers’ bonuses are expected to hit £7bn this year; that’s more than the combined annual expenditure of all the UK’s health, environment and community development charities," he said.

"High-earning bankers should set an example by donating money to help the people and the communities who have been hit hardest by the recession."

Etherington said this could be an interim measure while a reform of the banking system and new financial sector taxes are put in place, and reiterated his support for The Robin Hood Tax campaign.

The campaign calls for a small tax to be imposed on organisations in the financial sector and used for fighting poverty and climate change.

The comments come shortly after a recent call by Sir Stephen Bubb, chief executive of Acevo, for the government to tax bankers’ bonuses and give the money to the Big Society Bank.

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