Bankers’ Bonuses

Part of Treasury – in the House of Commons at on 11 October 2022.

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Photo of Marsha de Cordova Marsha de Cordova Labour, Battersea

That was total nonsense. As some families in Battersea struggle to keep up with the rising cost of living, the Government have chosen to help bankers by removing the cap on their bonuses, while maintaining the cap on household social security. Despite soaring bills and growing inflation, the cap has remained stagnant since 2016, plunging hundreds of thousands of families into deep poverty. The cap on social security is cruel. How can the Chancellor seriously justify removing the cap on bankers’ bonuses but not the social security cap? Will the Minister have a word with his colleagues at the Department for Work and Pensions and change that?