Critics question chancellor’s idea of abolishing rules imposed after 2008 financial crash during cost of living crisis
The UK chancellor, Kwasi Kwarteng, is reportedly planning to scrap caps on bankers’ bonuses in a controversially timed move to attract more talent to the City of London.
According to the Financial Times, Kwarteng wants to abolish rules imposed after the 2008 financial crash that capped bonuses at twice an employee’s salary. It is part of what he calls “Big Bang 2.0” – a post-Brexit deregulation drive to make the City more competitive.
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