Tories fuelling ‘greed is good’ with lift of cap on bankers’ bonuses, says TUC

Office workers and commuters walking through Canary Wharf in London. Bankers can receive unlimited bonuses after the cap on payouts was lifted on Tuesday. Photograph: Victoria Jones/PA

The Trades Union Congress has accused the Tory government of promoting a “greed is good” culture among bankers, who it said would be able to “cash in on unlimited bonuses” after a cap on payouts was lifted on Tuesday.

The TUC said that while ministers had repeatedly called for pay restraint for most workers, they had been “silent over excess in the City”.