Bankers cost each one of us £8.40 for every £1 they produce [STUDY]

Bankers cost each one of us £8.40 for every £1 they produce [STUDY]

Bankers cost each one of us £8.40 for every £1 they produce [STUDY]Rich bankers can today be exposed as a ­huge drain on society… ­costing the rest of us £8.40 for every £1 they produce.

A study by think-tank the New Economics Foundation found the average banker destroys ­£42million a year in value while creating just £5million.

Meanwhile hospital cleaners on £6.26 an hour are worth £10 for every £1 they cost because they prevent superbugs, saving the economy a fortune.

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The shock figures fly in the face of claims that bankers like Barclays boss Bob Diamond – paid £4.4million in 2010/11 – are worth vast ­bonuses because of their ­contribution to the economy.

Their drain on the country is caused by the cost of bailing out banks brought to their knees by the credit crunch and the ­devastating impact of the ­crisis their recklessness caused.

NEF found that tax ­accountants who help the rich cut their bill were even worse value, ­costing us £47 for every £1 they create.

Meanwhile low-paid public sector workers like nursery ­workers and bin men were found to more than earn their wages.

Helen Kersley from the NEF said: “We get a huge tax ­contribution from the City but it pales into insignificance next to the damage from the financial crisis in terms of unemployment, bailing out banks and leaving us with a massive public debt.”

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