Oral question asked in the House of Commons, by Ronnie Campbell (Labour). It was answered by Mark Hoban (Conservative) on Tuesday, 8 February 2011 on behalf of the Treasury.

Bankers' Bonuses

Question: What objectives he has set for the outcome of his discussions to limit the bonuses paid to bankers.

Answer: Our objective in these discussions is to create a banking industry that lends to the British economy, contributes to the Exchequer, and supports economic growth and employment. The Government are in discussions with the banks to see if a new settlement can be reached so that bonuses and remuneration policies are more transparent and levels of bonuses paid are smaller than they would otherwise have been. Alongside this, we are looking at options to ensure that banks make an appropriate contribution to local economies and communities and provide the credit required to support the economic recovery, facilitate growth and create jobs.

Secondary information