The report from St Paul’s Institute that was recently delayed is now published.
See Value and Values: Perceptions of Ethics in the City Today
Download the full report from here. (PDF, 1.6 Mb)
From the press release:
Professionals in the Financial Services sector believe that City bond traders, FTSE Chief Executives and stock brokers are paid too much, teachers are paid too little and that there is too great a gap between rich and poor in the UK, according to a survey carried out by ComRes on behalf of St Paul’s Institute.
Marking the 25th anniversary of the financial ‘Big Bang’, the survey also indicates that the majority of Financial Services professionals do not know that the London Stock Exchange’s motto is ‘My Word is My Bond’ and many think that deregulation of financial markets results in less ethical behaviour…
From the Notes:
Because the report was completed preceding the Occupy London encampment outside the cathedral it makes no mention of it and contains contributions from both the former Dean and Canon Chancellor of St Paul’s Cathedral. We are releasing the report in its original and unaltered form. The report was always intended to help develop a context for serious engagement that moves beyond colloquialisms about the financial sector and towards an understanding of true opinion and the culture of ethics in the City today.
Giles Fraser gave a fascinating lecture last evening at the Radio 3 festival at the Sage Gateshead. He answered questions about his part in the St. Paul’s saga – expertly in my view.
We were told that the lecture and questions are to be broadcast tonight (7th November) at 10pm on Radio 3.
It’s interesting that all this starts ‘Professionals in the Financial Services sector believe’. So the report’s headline conclusion is that even – or perhaps especially – among the reviled “bankers”, there is an appetite for a more equal society and stronger regulation of the market. Let’s hope that both sides of the policy debates grasp that insight.
Thank Goodness Archbishop Rowan has now spoken out on the issues occupying the Protesters. If only…