Moment Kwasi Kwarteng is heckled for lifiting bankers’ bonuses cap | Mini-Budget

Daily Mail published this video item, entitled “Moment Kwasi Kwarteng is heckled for lifiting bankers’ bonuses cap | Mini-Budget” – below is their description.

Moment Kwasi Kwarteng is heckled for lifiting bankers’ bonuses cap | Mini-Budget. The Government will lift the cap on bankers’ bonuses, Kwasi Kwarteng has told the Commons. Kwasi Kwarteng was heckled by opposition MPs and cheered by his own side as he confirmed plans to get rid of the cap on bankers’ bonuses. He told the Commons: “A strong UK economy has always depended on a strong financial services sector. We need global banks to create jobs here, invest in London, and pay taxes in London, not Paris, not Frankfurt, not New York. All the bonus cap did was to push up the basic salaries of bankers, or drive activity outside Europe. “It never capped total remuneration, so let’s not sit here and pretend otherwise. So we’re going to get rid of it. “And to reaffirm the UK’s status as the world’s financial services centre, I will set out an ambitious package of regulatory reforms later in the autumn.”

#kwasikwarteng #tories #tory #mp #uknews #houseofcommons #dailymail

Full story: https://www.dailymail.co.uk/news/article-11242327/Kwasi-Kwarteng-gambles-huge-tax-cuts-Emergency-Budget.html

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