Banker bonuses set to soar as Kwasi Kwarteng eyes a bonfire of City red tape

BANKER bonuses are set to skyrocket under Kwasi Kwarteng’s radical plan to make Britain the world’s financial powerhouse after Brexit. The new Chancellor is preparing to shred masses of…

Labour MP Dame Margaret Hodge said it is "obscene" to be thinking about banker bonuses in the raging cost of living crisis.

EU rules introduced in the wake of the 2008 financial crash limit City bonuses to twice a banker's base salary. They also said bonuses were taxable and so more cash would be generated for the Treasury to spend on vulnerable Brits.

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