Sit pretty as spending budget cuts loom

The united kingdom(Reuters) Britain is steeling itself for painful spending cuts, But the happy times are still rolling for the rich, Including the bankers blamed by many for the nation's economic woes.

Rescued by citizen money, Banks are blossoming again, When participating in London's upmarket shops on Bond Street and Savile Row, Rolex watches and tailored suits will always be flying off the shelves and into Mercedes and Alfa Romeo sports cars parked outside.

Also, While conspicuous attacks may continue unabated, There are signs that the rich may be giving more to charity as Britain prepares for an era of austerity.

The new Conservative led government will publish a budget on June 22 to reduce the record budget deficit run up partly to bail out banks hit by the 2008 monetary and the expected spending cuts are likely to be the deepest in 30 years.

The mindset for London's bankers, Though, Seems smarter.

"It is my opinion it's back to boom, Boom time for finance institutions. We've got less level of competition. Every bank's share of business is now up for doing nothing, Said a banker who declined to be named in London's Canary Wharf crisis district, Home to banks this kind of HSBC, Citibank combined with Barclays.

The impact of a one off tax on bank bonuses last year was softened as most banks absorbed the costs rather than give it to employees, And some spread the levy across their global arrangements, Lowering the effect on London.

In the meantime, Banks are riding a global personal finance rebound, Keeping upward pressure on pay in the hunt for qualified workers.

Lloyds since the Royal Bank of Scotland, Which both gained state bail outs, Have both beat expected results and returned to profit in the first quarter.

Dangerous banks, Mainly Goldman Sachs, JPMorgan and Deutsche loan provider, Have sizeable British businesses and have reported bumper profits.

A February survey found bankers in London had received a typical bonus increase of 40 percent this year and most also received a jump in base salary.

Countries that raided their coffers to bail out banks want to coordinate to introduce new rules that will claw back rescue money and reduce risky banking practices, But progress has been slow with no major law agreed so far.

Among the rich typically, The group wealth of Britain's 1,000 most affluent people rose by about a third a little time back year, While using annual Sunday Times Rich List, Authored last month alongside a story citing"Increasing" Fortunes on the rear of higher stock markets and resurgent banks.

CITY persons DEFIANT

Cashing in on solidifying public attitudes to bankers and the rich, Political figures campaigning for the May 6 election promised to crack down on banks and create"More proper" A the world.

Home based business secretary Vince Cable has vowed no return to"Online internet home industry as normal" And new banks and loans"Exercises, But his influence may be tempered by the ruling centre right orthodox Party's traditional pro market stance.

Members pm David Cameron and chancellor George Osborne both come from wealthy, Privileged experience while Cable's left leaning Liberal Democrat party is the junior partner in the new coalition government.

Some in London's finance community, The City and on which the economy heavily relies, Were rebellious.

"What should be used is the City to start growing the economy again. People can bash banks and the City nearly they like, But if you squash portland, You squash the british economy, Said a finance lawyer who turned down to be named.

Other City workers said it was unfair to punish them all for the bad decisions of a part of bank employees.

"We make sure nearly anything we've done is legal. Also can you do? The people with regard to the credit crunch are no more than five or so people in a bank, Said the Canary Wharf lender.

Another said political figures were using to them to detract attention from their failure to legislate good banking rules.

"Bankers are an easy scapegoat to deflect attention from the poor performance of the people in politics, He explained.

Far from contrite as all of Britain tightens its belt, City workers asked by Reuters said their spending, Or that of their richer co-workers, On luxury items hadn't dropped.

An April wealth report by the Economist thinking ability Unit said: "The what are known as new austerity does not apply to the very wealthy. They continue to spend comparable amount as they did before downturn, But maintain less flagrant,High end shops in London's dear Mayfair district said they had not seen demand fall, And luxury goods makers Moet Hennessy Luis Vuitton and Hermes have posted predict beating first quarter profits, Partly on higher american sales.

But while conspicuous consumption may be building in number again among the wealthy, Growing deprivation in all of society may be prompting the rich to also flash their cash for charity.

In the first quarter for this year, The Charities Aid support(CAF), Which supports bring charities and donors together, Said it had opened new charitable trust accounts expand. 70 million pounds($101.2 million) In via shawls by hoda, More than three times the volume in the same period last year.Sit pretty as spending budget cuts loom

The united kingdom(Reuters) Britain is steeling itself for painful spending cuts, But the happy times are still rolling for the rich, Including the bankers blamed by many for the nation's economic woes.

Rescued by citizen money, Banks are blossoming again, When participating in London's upmarket shops on Bond Street and Savile Row, Rolex watches and tailored suits will always be flying off the shelves and into Mercedes and Alfa Romeo sports cars parked outside.

Also, While conspicuous attacks may continue unabated, There are signs that the rich may be giving more to charity as Britain prepares for an era of austerity.

The new Conservative led government will publish a budget on June 22 to reduce the record budget deficit run up partly to bail out banks hit by the 2008 monetary and the expected spending cuts are likely to be the deepest in 30 years.

The mindset for London's bankers, Though, Seems smarter.

"It is my opinion it's back to boom, Boom time for finance institutions. We've got less level of competition. Every bank's share of business is now up for doing nothing, Said a banker who declined to be named in London's Canary Wharf crisis district, Home to banks this kind of HSBC, Citibank combined with Barclays.

The impact of a one off tax on bank bonuses last year was softened as most banks absorbed the costs rather than give it to employees, And some spread the levy across their global arrangements, Lowering the effect on London.

In the meantime, Banks are riding a global personal finance rebound, Keeping upward pressure on pay in the hunt for qualified workers.

Lloyds since the Royal Bank of Scotland, Which both gained state bail outs, Have both beat expected results and returned to profit in the first quarter.

Dangerous banks, Mainly Goldman Sachs, JPMorgan and Deutsche loan provider, Have sizeable British businesses and have reported bumper profits.

A February survey found bankers in London had received a typical bonus increase of 40 percent this year and most also received a jump in base salary.

Countries that raided their coffers to bail out banks want to coordinate to introduce new rules that will claw back rescue money and reduce risky banking practices, But progress has been slow with no major law agreed so far.

Among the rich typically, The group wealth of Britain's 1,000 most affluent people rose by about a third a little time back year, While using annual Sunday Times Rich List, Authored last month alongside a story citing"Increasing" Fortunes on the rear of higher stock markets and resurgent banks.

CITY persons DEFIANT

Cashing in on solidifying public attitudes to bankers and the rich, Political figures campaigning for the May 6 election promised to crack down on banks and create"More proper" A the world.

Home based business secretary Vince Cable has vowed no return to"Online internet home industry as normal" And new banks and loans"Exercises, But his influence may be tempered by the ruling centre right orthodox Party's traditional pro market stance.

Members pm David Cameron and chancellor George Osborne both come from wealthy, Privileged experience while Cable's left leaning Liberal Democrat party is the junior partner in the new coalition government.

Some in London's finance community, The City and on which the economy heavily relies, Were rebellious.

"What should be used is the City to start growing the economy again. People can bash banks and the City nearly they like, But if you squash portland, You squash the british economy, Said a finance lawyer who turned down to be named.

Other City workers said it was unfair to punish them all for the bad decisions of a part of bank employees.

"We make sure nearly anything we've done is legal. Also can you do? The people with regard to the credit crunch are no more than five or so people in a bank, Said the Canary Wharf lender.

Another said political figures were using to them to detract attention from their failure to legislate good banking rules.

"Bankers are an easy scapegoat to deflect attention from the poor performance of the people in politics, He explained.

Far from contrite as all of Britain tightens its belt, City workers asked by Reuters said their spending, Or that of their richer co-workers, On luxury items hadn't dropped.

An April wealth report by the Economist thinking ability Unit said: "The what are known as new austerity does not apply to the very wealthy. They continue to spend comparable amount as they did before downturn, But maintain less flagrant,High end shops in London's dear Mayfair district said they had not seen demand fall, And luxury goods makers Moet Hennessy Luis Vuitton and Hermes have posted predict beating first quarter profits, Partly on higher american sales.

But while conspicuous consumption may be building in number again among the wealthy, Growing deprivation in all of society may be prompting the rich to also flash their cash for charity.

In the first quarter for this year, The Charities Aid support(CAF), Which supports bring charities and donors together, Said it had opened new charitable trust accounts expand. 70 million pounds($101.2 million) In via shawls by hoda, More than three times the volume in the same period last year.Sit pretty as spending budget cuts loom

The united kingdom(Reuters) Britain is steeling itself for painful spending cuts, But the happy times are still rolling for the rich, Including the bankers blamed by many for the nation's economic woes.

Rescued by citizen money, Banks are blossoming again, When participating in London's upmarket shops on Bond Street and Savile Row, Rolex watches and tailored suits will always be flying off the shelves and into Mercedes and Alfa Romeo sports cars parked outside.

Also, While conspicuous attacks may continue unabated, There are signs that the rich may be giving more to charity as Britain prepares for an era of austerity.

The new Conservative led government will publish a budget on June 22 to reduce the record budget deficit run up partly to bail out banks hit by the 2008 monetary and the expected spending cuts are likely to be the deepest in 30 years.

The mindset for London's bankers, Though, Seems smarter.

"It is my opinion it's back to boom, Boom time for finance institutions. We've got less level of competition. Every bank's share of business is now up for doing nothing, Said a banker who declined to be named in London's Canary Wharf crisis district, Home to banks this kind of HSBC, Citibank combined with Barclays.

The impact of a one off tax on bank bonuses last year was softened as most banks absorbed the costs rather than give it to employees, And some spread the levy across their global arrangements, Lowering the effect on London.

In the meantime, Banks are riding a global personal finance rebound, Keeping upward pressure on pay in the hunt for qualified workers.

Lloyds since the Royal Bank of Scotland, Which both gained state bail outs, Have both beat expected results and returned to profit in the first quarter.

Dangerous banks, Mainly Goldman Sachs, JPMorgan and Deutsche loan provider, Have sizeable British businesses and have reported bumper profits.

A February survey found bankers in London had received a typical bonus increase of 40 percent this year and most also received a jump in base salary.

Countries that raided their coffers to bail out banks want to coordinate to introduce new rules that will claw back rescue money and reduce risky banking practices, But progress has been slow with no major law agreed so far.

Among the rich typically, The group wealth of Britain's 1,000 most affluent people rose by about a third a little time back year, While using annual Sunday Times Rich List, Authored last month alongside a story citing"Increasing" Fortunes on the rear of higher stock markets and resurgent banks.

CITY persons DEFIANT

Cashing in on solidifying public attitudes to bankers and the rich, Political figures campaigning for the May 6 election promised to crack down on banks and create"More proper" A the world.

Home based business secretary Vince Cable has vowed no return to"Online internet home industry as normal" And new banks and loans"Exercises, But his influence may be tempered by the ruling centre right orthodox Party's traditional pro market stance.

Members pm David Cameron and chancellor George Osborne both come from wealthy, Privileged experience while Cable's left leaning Liberal Democrat party is the junior partner in the new coalition government.

Some in London's finance community, The City and on which the economy heavily relies, Were rebellious.

"What should be used is the City to start growing the economy again. People can bash banks and the City nearly they like, But if you squash portland, You squash the british economy, Said a finance lawyer who turned down to be named.

Other City workers said it was unfair to punish them all for the bad decisions of a part of bank employees.

"We make sure nearly anything we've done is legal. Also can you do? The people with regard to the credit crunch are no more than five or so people in a bank, Said the Canary Wharf lender.

Another said political figures were using to them to detract attention from their failure to legislate good banking rules.

"Bankers are an easy scapegoat to deflect attention from the poor performance of the people in politics, He explained.

Far from contrite as all of Britain tightens its belt, City workers asked by Reuters said their spending, Or that of their richer co-workers, On luxury items hadn't dropped.

An April wealth report by the Economist thinking ability Unit said: "The what are known as new austerity does not apply to the very wealthy. They continue to spend comparable amount as they did before downturn, But maintain less flagrant,High end shops in London's dear Mayfair district said they had not seen demand fall, And luxury goods makers Moet Hennessy Luis Vuitton and Hermes have posted predict beating first quarter profits, Partly on higher american sales.

But while conspicuous consumption may be building in number again among the wealthy, Growing deprivation in all of society may be prompting the rich to also flash their cash for charity.

In the first quarter for this year, The Charities Aid support(CAF), Which supports bring charities and donors together, Said it had opened new charitable trust accounts expand. 70 million pounds($101.2 million) In via shawls by hoda, More than three times the volume in the same period last year.