Discuss - Business Bankers Bonuses - Cap banker's bonuses

Should new laws be introduced to ensure banker's bonuses are capped?

Alliance Party The 2010 Alliance Party Westminster Manifesto stated that they support the levy on bonuses to bankers. Source: 2010 Alliance Party Westminster Manifesto.

Conservative Chancellor George Osborne launched an unsuccessful legal challenge in November to new curbs on City bonuses. Tthe European Court of Justice rejected his challenge, ruling that the EU-imposed cap on the ratio of bonuses to base pay is 'valid'. He was forced to drop his legal challenge. Source: BBC News

DUP Nigel Dodds, DUP Deputy Leader, Leader of the DUP Parliamentary Party, Spokesman on Reform and Constitutional issues and Foreign Affairs stated in November 2014 that "... there is something very un-British about the get rich quick attitudes of the banker bonus culture" Source: MyDUP, http://www.mydup.com/news/article/conference-2014-rt-hon-nigel-dodds-mp

Green Party We support a special tax on bankers’ bonuses, though we would make it permanent. Also, no one in one of the wholly or partly state-owned banks should get a bonus of more than £25,000. Source: http://greenparty.org.uk/values/banking-2010/banking-detail.html

Labour Labour will "reform our banking system: taxing bank bonuses and increasing competition with at least two new challenger banks on the high street." Source: Labour Party Manifesto, http://b.3cdn.net/labouruk/89012f856521e93a4d_phm6bflfq.pdf

Liberal Democrat The Lib Dems believe that "carers deserve a bonus more than bankers". Their website says that "Now we are proposing to limit bonuses to a maximum of once or twice an individual’s annual salary with ways to claw back even if bankers have moved on to a new job." Source: Liberal Democrat website, http://www.libdems.org.uk/sharon_bowles_speech_to_liberal_democrat_autumn_conference_2012

Plaid Cymru "The only things back to pre-recession levels were the bankers’ bonuses and growth in the financial services sector providing rewards for the those who brought the country to the brink of economic collapse." - Plaid Cymru leader Leanne Wood. Source: http://www.dailypost.co.uk/news/north-wales-news/plaid-cymru-leader-leanne-wood-7987287

Respect Party "That this House is appalled that by the end of this year bankers’ bonuses are likely to have reached £80 billion since the financial crisis since 2008; points out that this is more than £1000 for every man, woman and child in the country and more than three times the £20 billion in revenue HMRC collected from the banks in corporation tax, the bank levy and the bonus tax combined in the same period" - George Galloway, Respect Party leader. Source: Respect Party website, http://www.respectparty.org/2014/02/11/galloway-opposes-the-new-round-of-bonuses-to-bankers/

SNP The SNP support an international bank tax and limits to industry bonuses. Source: BBC Politics http://www.bbc.co.uk/news/uk-politics-29642613

UKIP UKIP has not yet voted for firm action to curb bankers' bonuses.

Comment on this topic