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Stephen Tall

Vince: RBS should not pay out bonuses while bank making losses

By Stephen Tall | Thu 25th February 2010 - 7:00 pm

Bonuses for bankers: can they be justified? That’s the question everyone’s asking following RBS’s announcement that it made eye-watering losses of £3.6bn, but paid out bonues to staff worth £1.3bn.

Lib Dem deputy leader Vince Cable is dubious:

It’s hard to understand why £1.3bn is being paid out in bonuses when RBS continues to make losses. RBS rewarding individual bankers is like a football team paying their striker for scoring when they’ve just been relegated.  

“While it is good news that RBS is meeting its mortgage lending target, its lending to business has fallen. The Government has to get a grip and

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