Bankers’ bonus cap15 Sep 2022 08:36
The bankers’ bonus cap, which limits the pay of top City and Canary Wharf executives, could be scrapped by new Chancellor Kwasi Kwarteng.
The cap, which was brought in as part of EU-wide efforts after the financial crisis, has long been criticised as an anti-competitive stranglehold on the capital’s competitiveness.
Kwarteng wants to scrap the cap as part of efforts to revitalise the City and give London a competitive edge over European rivals