Ministers warn bankers over bonuses

Bankers and other corporate finance professionals have been warned by the government to "think very carefully" about this year’s round of bonuses.

Speaking on Tuesday, Treasury minister Mark Hoban continued the war of words between the finance sector and the government by urging banks not to pay out big bonuses at a time when hundreds of thousands of Britons are facing economic hardships.

His words follow on from weeks of talks over proposals for imposing limits on bonuses. Earlier this week, the British Bankers Association denied claims that it was working on a secret deal to cap payouts.

The coalition has already backed away from plans to require detailed disclosure of bankers’ bonuses by band, opting instead for publication only of total company bonus pools.

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