Bankers' Bonuses
from The Report Hosted by BBC Radio 4
Britain's bankers are on course to collectively receive an estimated £7 billion in bonuses over the next couple of months. David Cameron has called on banks to show restraint when awarding themselves 'compensation' as it's known, but with no bonus tax this year, the bankers are expected to do well again. City tailors and Mayfair clubs believe the good times are back, and bankers themselves tell Simon Cox, it's time for things to return to normal. The Government's pleas may not have been heeded but European regulation has had an effect how bonuses are paid - with a significant proportion in shares and deferred payments - to encourage a longer term view. That may not be going down with the high flyers, but bankers are hardly suffering - in many cases salaries have risen significantly - up to 50% in some cases. As The Report hears from voices in the City who say that pay and bonuses are too high and too easily earned, Simon Cox asks why it is that the Government seems powerless to curb them. Producer: Samantha Fenwick.
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