MP calls for debate on bank bonuses
26th January 2012
James Morris calls for a Parliamentary debate on executive pay and curbing bankers’ bonuses.
James Morris (Halesowen and Rowley Regis) (Con): The people of Halesowen and Rowley Regis are rightly anxious to see action against the something-for-nothing society at all levels. May we have a debate in Government time to explore why the previous Government did not get undertakings on executive pay from banks that took taxpayers’ money, and a debate on what this Government are doing to curb bankers’ bonuses?
Sir George Young: I would welcome such a debate. My hon. Friend will know that we have introduced a bank levy that raises £2.6 billion a year, and reduced bonus payouts, which are now some 40% lower than under the previous Government, who, as he says, took no action whatever in that important area.
