Quote:
posted: Last week, Royal Bank of Scotland boss Stephen Hester gave up a bonus worth almost £1m amid public outcry.
This followed the announcement that the bank - of which 82% is owned by taxpayers - was laying off 3,500 staff around the world.
In the Labour-led debate in the Commons, shadow business secretary Chuka Umunna dismissed suggestions his party was being "anti-business".
He said: "The public rightly expects that the culture of excessive bonuses must stop. That means bank executives' remunerations - stated to be 'performance-related' - should be just that, related to performance.
"Very large bonuses should only be paid to reflect genuine exceptional performance if trust in the system is to be maintained."
posted: Last week, Royal Bank of Scotland boss Stephen Hester gave up a bonus worth almost £1m amid public outcry.
This followed the announcement that the bank - of which 82% is owned by taxpayers - was laying off 3,500 staff around the world.
In the Labour-led debate in the Commons, shadow business secretary Chuka Umunna dismissed suggestions his party was being "anti-business".
He said: "The public rightly expects that the culture of excessive bonuses must stop. That means bank executives' remunerations - stated to be 'performance-related' - should be just that, related to performance.
"Very large bonuses should only be paid to reflect genuine exceptional performance if trust in the system is to be maintained."
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I radiate more heat than light.
I know what you're trying to do but you're just sailing another failboat over the falls. - imaloon1
I know what you're trying to do but you're just sailing another failboat over the falls. - imaloon1