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Treasury considering removing cap on bankers bonuses as part of City shake-up

BBCNEWS BBC News at One June 4, 2024 12:25:00

and to go to work. without extra help targeted at the most vulnerable, it s feared millions more families won t be able to afford the bills as the price goes up and the temperature goes down. colletta smith, bbc news, in leeds. the treasury is considering removing a cap on bankers bonuses as part of a post brexit shake up of city rules. the bbc has been told that no final decisions have been made, but that the chancellor, kwasi kwarteng, is considering it as a way of making london a more attractive place for global banks to do business. our business editor simonjack is here. it will be quite controversial, wouldn t it? it will be quite controversial, wouldn t it? , ., , , wouldn t it? very, i would say, yes. the bonus wouldn t it? very, i would say, yes. the bonus cap wouldn t it? very, i would say, yes. the bonus cap came wouldn t it? very, i would say, yes. the bonus cap came in wouldn t it? very, i would say, yes. the bonus cap came in 2014, - wouldn t it? very, i would say

BBCNEWS BBC News Special June 4, 2024 13:28:00

the treasury is considering removing a cap on bankers bonuses as part of a post brexit shake up of city rules. the bbc has been told that no final decisions have been made, but that the chancellor, kwasi kwarteng, is considering it as a way of making london a more attractive place for global banks to do business. our business editor simonjack is here. this was introduced in 2014 and it limits bankers bonuses to two times the base pay, introduced after the financial crisis, as a way of trying to limit the amount of excessive risk taking which many people thought caused the crisis and what it did to banks is to keep bankers in the manner to which they were accustomed and they actually raised their basic pay so they were basically getting to where they were before, that was bad for banks they thought because it meant that fixed costs go up and they are less able to dial up or dial down pay based on the profits or losses of the company. the banks think is a good idea to be able to marry t

BBCNEWS BBC News Special June 4, 2024 13:01:00

more claims of atrocities committed by russian troops. what will happen to energy bills next month? we take a look at what the changes might mean for you. and a splash of pink at the funeral of 9 year old olivia pratt korbel, killed by a gunman in liverpool last month. the chancellor considers removing a cap on bankers bonuses as part of a post brexit shake up of city rules. hundreds of people report seeing a shooting star over the sky of scotland and northern ireland last night.

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