U.K. Banks Still Under Pressure To Cut Bonuses

A day after the U.K. prime minister said the government was abandoning its effort to get banks to slash bonuses, George Osborne, the chancellor of Exchequer, says he will still pressure them to comply, reports Bloomberg.

A day after the U.K. prime minister said the government was abandoning its effort to get banks to slash bonuses, George Osborne, the chancellor of Exchequer, says he will still pressure them to comply. “I’ve made it very clear to them that nothing is off the table,” said Osborne before members of Parliament. State-owned Royal Bank of Scotland has announced a smaller bonus pool this year as the government will push for a similar commitment from Barclays, HSBC Holdings and Lloyds Banking Group, he said.

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