New Clause 13 — Bank bonus tax

Part of “Group 12 — Caravans – in the House of Commons at 8:15 pm on 3rd July 2012.

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Photo of Grahame Morris Grahame Morris Labour, Easington 8:15 pm, 3rd July 2012

Does the hon. Gentleman agree that part of the problem with the banking crisis is the excessive bonus culture? Perhaps shareholders and Governments should have dealt with that, but we will discuss that on Thursday. Is this proposal not an attempt to address that issue and to ensure that those with the broadest shoulders, who have done so well over the past 10 years with their huge bonus payments, make a contribution now that times are tough?