Jeremy Hunt Citi Jeremy Hunt

‘Bad timing’: Bank bosses blast bonus cap scrapping

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Chancellor Jeremy Hunt’s Autumn Statement last week dismantled many of his predecessor’s ‘mini-budget’ proposals — apart from the controversial move to scrap the cap on bankers’ bonuses.However, senior bankers who employ thousands of staff told Financial News that lifting the cap will not help attract talent to the City and comes at a “terrible” time for a sector still struggling to shed its reputation for fat pay packets.“We...

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