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British banks must ‘show restraint’ and not abandon bonus caps for senior staff
Bank of England in the City of London
BRITAIN’S banks must “show restraint” and not abandon the cap on senior bankers’ bonuses, the TUC has urged.
The intervention follows an announcement last week by Goldman Sachs that it would be lifting the cap paid out to its bosses, following a Conservative decision to let banks hand out unlimited bonuses.
Under the previous legal cap, an employee’s bonus could be no more than 100 per cent of their annual pay, or 200 per cent with shareholders’ approval.
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