Chancellor Kwasi Kwarteng has removed the cap on bankers’ bonuses.
As Mr Kwarteng announced he was lifting the cap he was heckled by Labour MPs, while he received cheers from his own backbenchers.
“We need global banks to create jobs here, invest in London, and pay taxes in London, not Paris, not Frankfurt, not New York. “It never capped total remuneration, so let’s not sit here and pretend otherwise. So we’re going to get rid of it.
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