David Cameron ducks call to cap bonuses at RBS
The Prime Minister’s efforts to reassure the public that his government was tackling the culture of greed in the financial sector stopped short of a full pledge to block huge financial rewards and were described by his opponents as “a complete red herring”.
Faced with anger over the prospect of some RBS bankers receiving enormous bonuses on top of their already lucrative salaries, the Prime Minister said his government would “veto” any increase in the overall level of pay and bonuses handed out by the taxpayer-owned bank.
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Hide AdPressed on the issue at Prime Minister’s Questions, Mr Cameron also insisted that cash bonuses at Royal Bank of Scotland would be limited to £2,000.