A CAP on bankers’ bonuses is set to be scrapped in what the TUC branded an “obscene decision” and “an insult to working people.”
Financial regulators announced today that the limit on annual payouts to 100 per cent of salary would be removed from the end of the month.
The Tories were slammed as “absolutely immoral” as the announcement was made as it emerged that one million children are living in destitution.
The Bank of England’s prudential regulation authority (PRA) said the bonus cap had been “identified as a factor in limiting labour mobility.”
Disastrous former chancellor Kwasi Kwarteng first revealed plans to change the EU-wide bonus rules a year ago.
TUC general secretary Paul Nowak said: “Rishi Sunak has shown once again that he is more interested in feather-nesting the super-wealthy than helping struggling families.
…