(Kirsty O’Connor/PA)
(Picture: PA Wire)City bankers may soon be able to receive unlimited bonuses after the Bank of England today announced plans for a consultation on scrapping the so-called ‘bonus cap’.
The decision to scrap the cap, which sets limits on the ration between fixed and variable pay in financial services, was among the few policy moves that survived Kwasi Kwarteng’s disastrous ‘mini-Budget’ after much of it was axed by his replacement, Jeremy Hunt.
