Opposition Day — [17th Allotted Day] — Banking

Part of the debate – in the House of Commons at 1:21 pm on 15th January 2014.

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Photo of Chi Onwurah Chi Onwurah Shadow Minister (Cabinet Office) 1:21 pm, 15th January 2014

The Minister has spoken in strong terms about the experience of the financial services. Does he accept that the unique way in which bonuses drive short-term risk taking led to the scandals that we witnessed, and, indeed, to the financial crisis? Does he really believe that the reward for short-term risk taking behaviour to meet bonus targets should be more than 100% of the reward that someone receives for doing his or her own job?