Labour will not bring back cap on bankers’ bonuses if they win next election

If Labour wins the next election, the party will not bring back the cap on bankers’ bonuses. The limit on pay-outs to bankers was junked as part of Liz Truss’s You can see why Labour has decided to keep things as they are in this regard. The party is desperately keen to be seen as supportive of business and financial services, and they do not want to shake up or alienate those sectors in an election year, at an extremely difficult economic juncture. They have large commitments, particularly in the New Deal for Working People, that are hard sells to the private sector, that they need to balance out, and the bankers’ bonus cap does not ultimately impact that many people, nor does it do anything for the Treasury’s coffers

If Labour wins the next election, the party will not bring back the cap on bankers’ bonuses. The limit on pay-outs to bankers was junked as part of Liz Truss’s You can see why Labour has decided to keep things as they are in this regard. The party is desperately keen to be seen as supportive of business and financial services, and they do not want to shake up or alienate those sectors in an election year, at an extremely difficult economic juncture.

They have large commitments, particularly in the New Deal for Working People, that are hard sells to the private sector, that they need to balance out, and the bankers’ bonus cap does not ultimately impact that many people, nor does it do anything for the Treasury’s coffer

Source: i newspaper