Summary
GEORGE Osborne was last night accused by Labour of throwing in the towel on bankers' pay as Stephen Hester, head of the Royal Bank of Scotland, was awarded a pound(s)2 million bonus and Eric Daniels, the head of Lloyds, was handed pound(s)1.5m.
As the Treasury insisted it had played hardball in its talks with the four big banks - RBS, Barclays, Lloyds and HSBC - and secured a one-year deal "way above expectations", with a 15% increase in bank lending and pound(s)2 billion more in taxes from them in 2011 compared to 2010, the Chancellor of the Exchequer signalled it was time to end banker-bashing.See the full content of this document
Extract
Chancellor Is Accused of Climbdown On Bank Bonuses
He told MPs that, while he recognised public anger towards the banks, it would not create one percentage point of growth or...
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