There is only one group less popular than politicians: bankers. So the decision by Rishi Sunak to scrap the banker bonus cap is certainly a bold one. But it is also the right one.
Scrapping the cap will be good news for the City. While this is a difficult sell to the general public, banking and finance is one of the country’s most important services industries. It creates and supports high-paid jobs, attracts investment into the country, and raises a significant amount of revenue for the Treasury to spend on essential public services.
