At a time of rising prices and an ever increasing cost of living, there are at last signs of a financial boost for an industry toiling away at the economic coal face. British bankers, it seems, could be about to receive a hefty pay rise, with the new UK chancellor reportedly planning to scrap the limit on how much they receive in bonuses.
At the moment, that limit stands at 100% of a banker’s salary, but can be doubled to 200%, subject to shareholder approval. So a banker earning, say, £100,000 a year can only receive an annual bonus of £100,000, or £200,000 in special circumstances.
