Labour: RBS bonuses are 'astounding'
Chris Leslie, Labour's shadow financial secretary to the Treasury, has criticised RBS for paying out over £600 million in bonuses despite recording losses for the fifth year in a row.
RBS must continue its work of restructuring, but people will be astounded that bonuses of £600 million are being paid out in a year of big losses, compensation payments for mis-selling and fines for Libor fixing.
We need radical change in the culture of our banks and that must include reining in bloated bonuses which are a device for keeping traders focused on the weeks ahead, rather than years ahead.
– Labour MP Chris LeslieIt shouldn't take the European Union to rein in excessive bonuses, but UK Ministers have dragged their feet and refused to act.
More top news
Compensation decision on soldier killed in Iraq due
The family of a Tamworth soldier killed in Iraq will find out on the 19th June if they can sue the government for compensation.
Equipment worth millions set to return from Afghanistan
The Ministry of Defence has been explaining how it will bring home millions of pounds worth of equipment from Afghanistan.
Reckless bankers could face jail under new proposals
The Banking Commission says that senior bankers at state owned banks who are guilty of reckless actions should go to jail.