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Clegg urges RBS to show restraint over bonuses

Deputy Prime Minister Nick Clegg has warned taxpayer-owned Royal Bank of Scotland that it "shouldn't be dishing out ever larger amounts of money in pay and bonuses" as it announced pre-tax losses for 2013 of £8.2bn and a reduced bonus pot of £576m.

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RBS reports losses of £8.2bn and £576m in bonuses

RBS has confirmed losses. Credit: PA

The Royal Bank of Scotland has confirmed pre-tax losses of £8.2 billion last year alongside £576m in bonuses in an announcement likely to reignite the row over pay.

RBS, which is 81% owned by the taxpayer, reported a £5.3 billion loss in 2012.

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