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Welsh Affairs

I do not want to prolong the debate about the British banking system, but I gently highlight to the hon. Gentleman something that has been made clear to me by those in the banking system—that they regard bonuses as a traditional part of how they remunerate their staff. In order to get away from this situation completely, they will have to change their system completely, because it does not look good. However, I am cautious about completely condemning bonuses, because, as the hon. Member for Chesham and Amersham (Mrs. Gillan) has rightly pointed out, they seem to have listened to the Prime Minister's advice.