Banks: Incentives

Treasury written question – answered on 11th January 2023.

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Photo of Andrew Rosindell Andrew Rosindell Conservative, Romford

To ask the Chancellor of the Exchequer, what assessment he has made of the potential impact of uncapping bankers bonuses on tax revenue.

Photo of Andrew Griffith Andrew Griffith The Economic Secretary to the Treasury

The removal of the banker’s bonus cap is a rule change being proposed by the independent Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA). As such HM Treasury has not assessed the impact of removing this cap on tax revenue.

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