Barclays' chief Diamond talks of bonus 'restraint'

Barclays' new chief executive Bob Diamond has defended bankers' bonuses and refused to confirm whether he will forgo his payout this year, thought to be worth up to £8m.Diamond, the former head of investment banking arm Barclays Capital promoted on 1 January, also told a Treasury Select Committee the time for apologies from banks is over."I'm committed as chief executive to acting responsibly, to showing any restraint I can," said the 59-year-old American. "Bonuses are not taken lightly. We are sensitive. We're listening."It's still too early for banks to confirm exactly what staff will receive this year - they're still crunching the numbers - but Barclays is thought to be dishing out a little less than last time when it makes its decision, due in a couple of weeks.State-owned Royal Bank of Scotland is expected to share out nearer £1bn compared with last year's £1.3bn, but there's talk that CEO Stephen Hester will trouser £2.5m.The total bonus bill for City bankers is expected to be about £7bn, down from £7.3bn a year ago and much less than the £11.6bn paid out in 2007.Then, Chelsea fan Diamond made £21m, but he's waived his bonus for the past two years amid public anger at the banks who they blame for causing the recession.Coalition leaders had promised a clampdown on the huge rewards handed to the Square Mile's wheeler dealers, but it's looking increasingly likely their efforts have failed.A promise to lend more to small businesses is all ministers will get, according to reports.That will come as a huge embarrassment to David Cameron and Nick Clegg, just as their tough package of spending cuts, including thousands of public sector job losses, begin to bite.