lofthouse
Tuesday 24th October 2023 3:12pm
Nowhere
13,858 posts
Phew
Some flippin good news for a change...
"The cap on bankers' bonuses is to be abolished, the financial services regulatory body has announced.
From 31 October, EU rules that limit bonus payments to twice a banker's salary will be removed in the UK, the Prudential Regulatory Authority (PRA) said.
The policy change was initially announced by former chancellor Kwasi Kwarteng in the infamous September 2022 mini-budget of the Liz Truss premiership.
It was one of the few announcements to be retained when Chancellor Jeremy Hunt took charge of the Treasury."