TOUGH AT THE TOP

"City bonuses have increased by 30% to a record £14bn this year. The rise is twice as big as in 2006 and likely to exacerbate the widening gap between executive and shop-floor pay. The bonuses come against a background of record debt, rising bankruptcies and home repossessions. Analysis by the Guardian of preliminary data from the Office for National Statistics (ONS) shows that bonuses across the economy rose 24% this spring to £26.4bn, comfortably is exceeding the country's entire transport budget. More than half, £14.1bn was earned by the 1 million people in the financial services sector. The figure for 2006 bonuses was £10.9bn. The bonuses have fuelled unprecedented demand for luxury goods and high-end property. Bonuses are regularly cited by estate agents as a key factor in pushing up property prices in London. ..The waiting list for a new Rolls-Royce is now five years and there is a shortage of crew members for super yachts." (Guardian, 28 August) Spare a thought for the position of our "betters"; they have to wait five years for a new Roller and have difficulty getting a crew for their yacht. It is certainly tough at the top! RD