CITY SLICKERS SET FOR £7.5BILLION BONUS

PUBLISHED: 14:08 18 January 2006 | UPDATED: 09:27 06 May 2010

FINANCIAL workers in the nation s capital are on track for collective bonuses of £7.5billion, figures just out reveal. Experts at the Centre for Economics and Business Research (CEBR) say the record total is 16 per cent up on the £6.4billion thought to h

FINANCIAL workers in the nation's capital are on track for collective bonuses of £7.5billion, figures just out reveal.

Experts at the Centre for Economics and Business Research (CEBR) say the record total is 16 per cent up on the £6.4billion thought to have been paid out last year.

The Centre said the average worker would get an extra £23,000 to fatten up their pay packets, while some reports estimate that 3,000 lucky people will get a windfall of £1million or more.

It said a 10 per cent rise in stock market activity and a 20 per cent increase in mergers and acquisitions were responsible.

The CEBR said rising activity in the City meant 9,500 new jobs were created, taking the total to 325,500.

This surpasses the previous employment record reached just before the dot.com crash in 2000.

It expects a further 6,300 City jobs to be created in 2006 as activity continues to increase, with a resultant boost to bonuses again next winter.

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