Downing Street Says » Bank bonuses

» Monday, November 22, 2010

Bank bonuses

Asked why the Government appeared to be having second thoughts on the disclosure of bank bonuses, the PMS said that this referred to an article by David Walker, who had said that other countries were not moving in the same direction as the UK and we should think about whether or not we could promote it internationally. So this was a statement by David Walker and not the Government.

Put that the Chancellor had confirmed this earlier today, the PMS replied that the Chancellor had said that Mr Walker had made some comments and it might be better for Britain to promote this internationally rather than unilaterally.’

Asked if bankers who got more than 1m in bonuses would need to disclose them, the PMS said that the Government would bring forward proposals. This was also set out in the Coalition Agreement.

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