Boris Johnson dismisses EU banker bonus cap

London Mayor Boris Johnson has attacked EU plans to cap banker bonuses.

He said: "People will wonder why we stay in the EU if it persists in such transparently self-defeating policies. Brussels cannot control the global market for banking talent. Brussels cannot set pay for bankers around the world.

Boris Johnson
Boris Johnson has attacked the European Union again. Credit: Steve Parsons/PA Wire/Press Association Images

"The most this measure can hope to achieve is a boost for Zurich and Singapore and New York at the expense of a struggling EU.

"This is possibly the most deluded measure to come from Europe since Diocletian tried to fix the price of groceries across the Roman Empire."

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EU moves to cap bank bonuses

European Union officials last night struck a deal to cap bankers' bonuses at a year's salary. Under the deal some bankers may still earn twice their salary in bonuses if there is explicit approval from shareholders.