Post by gordo on Oct 24, 2023 13:35:16 GMT
The tory Govt. has formally abandoned the Banker Bonus Cap, which was actually a measure in the now infamous Liz Truss Budget.
But they have decided to keep with that one bit of policy.
Apparently, this was originally an EU thing, so of course, it had to go!
One of the reasons for having such a bonus cap, was to help prevent bankers from acting is such ways that lead to the Banking Crisis in 2008/9.
Would be interesting to see if Labour, under Starmer, quietly keeps this new policy, tho we've yet to hear from him.
This at a time when millions in UK face absolute poverty!!!
Bankers' Bonus - from BBC News..................
www.bbc.co.uk/news/business-67206997
........................................................................................
Poverty in UK - from ITV News....................
www.itv.com/news/2023-10-24/destitution-doubles-in-five-years-with-38-million-unable-to-meet-basic-needs
But they have decided to keep with that one bit of policy.
Apparently, this was originally an EU thing, so of course, it had to go!
One of the reasons for having such a bonus cap, was to help prevent bankers from acting is such ways that lead to the Banking Crisis in 2008/9.
Would be interesting to see if Labour, under Starmer, quietly keeps this new policy, tho we've yet to hear from him.
This at a time when millions in UK face absolute poverty!!!
Bankers' Bonus - from BBC News..................
www.bbc.co.uk/news/business-67206997
........................................................................................
Poverty in UK - from ITV News....................
www.itv.com/news/2023-10-24/destitution-doubles-in-five-years-with-38-million-unable-to-meet-basic-needs