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Tough talk on bank bonuses comes to nought

Publié par Clifford Armion le 01/11/2011

James Moore

"It is 83 per cent-owned by the British taxpayer, has had more than £45bn of direct aid poured in, £280bn of risky loans insured and a further £8bn set aside in case things get really bad. But the Government insisted yesterday it would not intervene to stop Royal Bank of Scotland's chief executive, Stephen Hester, earning up to £9m for his work last year.

"Nor will it seek to cap the bonus pool of more than £1bn that the state-owned bank plans to lavish on its richly rewarded staff. A spokesman for David Cameron said: "We've made a broad statement which is about the need to see some restraint and some responsibility from the banks, but we are not going to set bonus pools for individual banks."

"UK Financial Investments (UKFI), the government body charged with overseeing the taxpayers' investment in the banking system, declined to comment on "discussions" it has held with RBS over Mr Hester's remuneration package and those of its other bankers. However, UKFI gave its blessing last year to a £1.3bn bonus pool at RBS, and Mr Hester agreed to waive his bonus only "voluntarily"."

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Pour citer cette ressource :

"Tough talk on bank bonuses comes to nought", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), novembre 2011. Consulté le 28/09/2020. URL: http://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/tough-talk-on-bank-bonuses-comes-to-nought