Labour: Govt 'dragging its heels' over banking reforms

Labour Treasury spokesman Chris Leslie has said the European Union's move to cap bankers' bonuses should have been "driven by George Osborne", and that the Government had been "dragging its heels" over banking reforms.

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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.