Cathy Jamieson MP, Labour’s Shadow Financial Secretary to the Treasury, responding to results at HSBC, said:

“We’re once again seeing bumper pay-outs with bonuses up this year at Lloyds, Barclays and now HSBC.

"The government should be repeating Labour’s successful bank bonus tax this year. This could fund a paid job for every young person out of work for 12 months or more, which they would have to take up or lose benefits.

"Labour’s plan will help us earn our way to higher living standards for all, not just a few at the top. And we will balance the books in the next Parliament, but do so in a fairer way by reversing David Cameron’s £3 billion tax giveaway for the top one per cent of earners.”

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