Bonuses At State-backed Banks May Be Curbed By Government

By Author: John Cena
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David Cameron, the Prime Minister of Britain had said that the cash bonuses in the financial sector of the country have gone totally out of control in the past few years. Now he made an announcement that the cash payment done in the banks that are backed by the state would put on a limit that would be up to 2000 pounds.
He further added that a properly developed and detailed proposal would on the issue of curbing of the executive pay would be brought in the coalition government. This quite an important issue for the country as the trouble of unemployment is on a rise on a continuous basis which is a matter of concern. Apart from this because there is inflation there has almost been no rise in the pays of the people.
He also cleared the air about a report of Royal Bank of Scotland that was there in the Financial Times about, Stephen Hester who is Chief Executive that he would be getting a bonus that is going to be anywhere 1.3 million pounds to 1.5 million pounds in the payments that would be coming in future. 83 percent was the figure of the percentage that the state had in RBS which is done after the tax payers ...
... were bailed out. He said that nothing about his payment bonus has been decided as of now. What the bank has decided he would go with it. Apply with 12 month loans instant approval and get the required cash with ease.
Cameron also said that they are not doing any thins new; this was done earlier as well. The share holders are going to repeat the same thing. The payment of the cash bonus would only be restricted to 2000 pounds at the most. Lloyds Banking Group was bailed by the state when they got a share in it of around 40 percent. This happened under the Labor government in the year 2008-09 when the country was going to through the trouble of monetary crunch.
Prime Minister Cameron is a part of centre-right Conservative and is a complete believer in the financial services of the industry that till now is contributing more than the 10 percent of Gross Domestic Product, GDP. He also rejected signing EU treaty a few months back as he felt that it is going to do harm to the industry as it is the main part of the economy of London but he also knows about the concerns of the people of the country.

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