Chancellor George Osborne is warning that capping bankers' bonuses will drive banking business away from the EU, and the UK.
New plans for banks to set aside more money to help small business, will see stricter limits on salaries to increase liquidity.
At a meeting in Brussels today, ministers will consider a provisional proposal pushed last week by MEPs and backed by the European Commission.
More top news
A dog owner forked out £1,200 in vet bills after his Terrier ate 24 rubber gloves used for tending to his allotment.
The CIA has been criticised for 'live-tweeting' the killing of Osama bin Laden to mark the fifth anniversary of his death.
Argos has issued an urgent recall of certain car seats and warned parents to stop using them "immediately" over safety fears.