Unite Defends Low Paid Workers Right to Lloyds Bonus and Urges Government to Utilise Increased Stake in Bank

LONDON, March 7 /PRNewswire/ -- Rob MacGregor, Unite National Officer, said: "Unite will stand firm in
defence of staff at the Lloyds Banking Group who have earned their small
annual bonus payment. These workers are earning salaries as low as GBP12,000
per year and depend on the bonus payments to survive. It is inappropriate for
front-line staff to be compared to executives or city traders who have ridden
the wave of finance growth and made huge pots of money.

"It is essential that the government now ensure that the taxpayer's
economic stake is used in a socially responsible manner. It would be
deplorable for the taxpayer-backed Asset Protection Scheme to insure the
banks' riskiest assets while getting no real say in how the company is
managed in the future. The taxpayer's demands have to be heard at the top
table and not simply become a silent injection of money.

"The financial support to the UK's banking sector must be tied to clear
commitments to secure jobs and make the industry more transparent and
accountable. There can not be a business as usual scenario inside Lloyds
Banking Group."

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