|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    21st of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Banking News feed Banking News

Economy News feed Economy News

All Financial News feed All Financial News




Banks understood to be cutting bonus payments

Bookmark and Share

by Kay Mitchell
”Banks

A report by the BBC has revealed that Britain’s biggest banks are understood to be in talks about reducing the amount they receive in bonuses.

Bonuses have been a major issue for some time now and have sparked public outrage since many argued that excessive bankers’ bonuses reward the risk-taking culture that led to the financial crisis.

Leading think tank, the Centre for Economics and Business Research (CEBR), recently unveiled City bankers will be in receipt of a bonus pot of £7.3 billion this year.

However, the BBC has suggested that this figure could be cut to around £4 billion – an amount which will still attract some criticism.

Business Secretary Vince Cable has already said banks could face higher taxes if they reward themselves “outrageously large” bonuses.

Deputy Prime Minister Nick Clegg added that ministers would not stand “idly by” if banks awarded its staff hefty payouts after being bailed out by the taxpayer.

The controversial issue of bonuses is particularly attracting criticism currently as banks continue to pay bonuses while the public sector is faced with savage cuts, as the Government attempts to bring down the budget deficit.

Discuss this in the Finance Markets forums

Story link: Banks understood to be cutting bonus payments



News posted: November 15, 2010

Financial Services:





Related financial stories to: Banks understood to be cutting bonus payments:
Previous: «
Next: »

Visited 2518 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , ,