We learn today that the Chancellor is warning the City not to go back to the ways and days of big bonuses.
This is the same Chancellor who allowed a near £10 m pay and bonus package for the CEO of RBS, a bank where he represents the controlling shareholders!
This speech is almost as good as his “moral hazard” speech in 2007, saying the government would not bail out bad banks. I remember being very critical of that at the time. This is another corker.