Why we must cap bankers' bonuses
February 1, 2024
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13:51Now PlayingWhy we must cap bankers' bonuses
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as posted by the channelThe Labour Party has come under fire after Shadow Chancellor Rachel Reeves announced it had no intention of changing Liz Truss and Kwasi Kwarteng’s scrapping of bankers’ bonuses.
It comes the same week as the party positions itself as “the new party of business”.
The cap on bankers' bonuses was first introduced in the wake of the 2008 financial crisis to limit annual payouts to bankers.
The objective of this was to make the financial system safer by reducing the kind of excessive risk taking that led to the Global Financial Crisis of 2008
So, what’s the reasoning behind it?
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