St Paul's Institute report on the City is finally published

By staff writers
8 Nov 2011

St Paul’s Institute yesterday released their long-awaited 'Value and Values' report, based on a survey of 515 financial professionals working in the City.

The report was put together with the guidance of the Rev Giles Fraser, the Institute's director, who resigned as canon chancellor at St Paul's Cathedral when it seemed likely that legal action leading to forced eviction would be taken against the Occupy anti-corporate greed and injustice encampment on its doorstep.

The publication of 'Value and Values' was then controversially postponed, amidst accusations that the Cathedral was bowing to pressure from financiers and bankers.

This was strongly denied, though one of their supporters, Ken Costa, yesterday sought to thwart the increasing closeness between faith groups and protesters, telling the Church of England to stop "attacking" the City.

The report, focusing on those working within the Square Mile, reveals that although those professionals regard financial incentives as extremely important, three quarters of the people surveyed feel they are paid too much in relation to the rest of society.

This conflict between personal morality and financial incentives is an important finding, says Occupy the London Stock Exchange.

OLSX declared: "[We are] glad that through our occupation – sited between the London Stock Exchange and St Paul’s Cathedral – we have helped to ensure that this report attracts the attention it deserves."

The group contines: "While personal morality is an important aspect of the crisis that faces us, Occupy London believes that emphasis must also be placed on the regulatory responsibilities of government and the ability of mainstream politics to accurately represent and protect the interests of the ordinary working people of this country."

The St Paul’s Institute has asked the OLSX activists to frame a number of responses to the report. Copies of the report have been given to the OLSX Economics Policy group, to its Multi-faith, Belief and None group and to the library, Starbooks, where they are available to be read by all those who cannot access the document online.

"We look forward to continuing the debate that St Paul’s Institute has contributed to today, both in direct cooperation with them and in our own discussions. Tent City University will be holding a debate on issues arising from the report this Friday 11 November, and we will have further details on this shortly," OLSX said in a statement.

* Read and download the full St Paul's Institute 'Value and Values' report (*.PDF Adobe Acrobat document): http://www.stpaulsinstitute.org.uk/assets/docs/value%20and%20values%20-%...

* More on OLSX: http://occupylondon.org.uk/

[Ekk/3]

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