I am setting out my Department’s position. Whether a review is undertaken is a matter for the Treasury, and the Treasury’s position was set out in a letter from the Chief Secretary to the Treasury to MPs on
The proposals have been considered for several months. They are balanced, and I support them. With the support of my Department, I have formally written to the Treasury to say that we support the proposals, because the trustees have identified that protecting already accrued bonuses is more important than the 50:50 split.