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
Scientists have discovered the world's deepest fish with wing-like fins and an eel-like tail during research in the depths of the Pacific.
The tranquil district of Hart has been crowned as the place with the best quality of life in the UK for the fourth year in a row.
Britain's immigration system is in 'critical condition' according to the chair of the Home Affairs Select Committee.