The quick guide to United Kingdom political parties stances on bonus cap

Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

Labour’s answer: Yes Chris Leslie MP, Labour’s shadow chief secretary to the Treasury, responding to reports that RBS may ask the Government to approve a rise in the EU’s cap on bank bonuses, said: “At a time when families face a cost-of-living crisis and bank lending to business is falling, it cannot be right for George Osborne to approve a doubling of the bank bonus cap.Source

Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

Conservative’s answer: No George Osborne has dropped his legal challenge to the European Union cap on bankers bonuses after a leading legal adviser to European court judges comprehensively dismissed the Treasury’s appeal. The cap restricts bonuses to 100pc of banker’s pay or 200pc with the approval of shareholders. The Treasury said it will now withdraw its challenge, “and instead look at other ways of building a system of pay in global banking that encourages rather than undermines responsibility.” “I’m not going to spend taxpayers’ money on a legal challenge now unlikely to succeed. The fact remains these are badly designed rules that are pushing up bankers’ pay not reducing it," the Chancellor said. "These rules may be legal but they are entirely self-defeating, so we need to find another way to end rewards for failure in our banks."Source

Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

Liberal Democrat’s answer: Yes, and lower the cap to 20% Limit cash bonuses to £2,500 annually, with any bonuses in excess of this figure to be paid in shares which could not be sold for five yearsSource

Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

Green’s answer: Yes Enforce a cap on bankers’ bonuses and reduce the pay gap between those at the top and those at the bottom.Source

Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

SNP’s answer: Yes, and lower the cap to 20% After calls from the Greens-European Free Alliance group - of which the SNP is a member - bankers’ bonuses can now only be 100% of the salary, rising to 200% of the shareholders agree, a move which the UK government lobbied against in the Council of Ministers. Tier 1 capital requirements (the best quality capital) will be doubled, and new liquidity requirements will ensure that banks have enough liquid assets to tide them over in the event of a market crisis. There will also be a reduction in capital requirements for banks’ lending to small and medium-sized businesses, to spur growth in the real economy and support our local communities.Source

Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

Plaid Cymru’s answer: Yes, and nationalise the banks Mr Edwards also warned that the only way to curb the excessive bankers’ bonuses was to properly tax corporate profits, and argued that the ongoing bankers’ bonuses saga was unacceptable to an electorate shouldering the burden for the financial crisis.Source

Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

Libertarian’s answer: No Source

Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

British National’s answer: Yes, and nationalise the banks The banksters cannot be let off the hook for their role in the current financial crisis. The BNP demands that the banksters responsible for the catastrophe which has crippled the international banking system be held personally legally liable for their actions in terms of corporate governance laws. They should have to pay a personal price for the mess they have created, and not be rewarded with huge bonuses which have come from taxpayer-funded bailouts.Source

Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

Sinn Féin’s answer: Yes in relation to a specified institution means a former employee of the specified institution who retired on or after the passing into law of the Credit Institutions (Financial Support) Act 2008 and who currently receive an annualised amount of a pension in excess of €100,000. ‘ relevant remuneration’, in relation to a relevant employee, means, subject to section (2), all emoluments including salary or wages or a regul ar benefit or perquisite in excess of €150,000 per year for the purposes of applying a 20 per cent levy and in excess of € 250,000 per year for the purposes of applying a 45 per cent levy.Source

Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

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Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

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Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

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Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

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Should bankers’ bonuses be capped at 100% of their pay? ^{stats discuss}

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