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  • 11 months ago
Rachel Reeves rules out reinstating a cap on bankers’ bonuses saying, “as the chancellor of the exchequer, I would want to be a champion of a successful and thriving financial services industry in the UK”. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

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00:00 The cap on bank bonuses was brought in in the aftermath of the global financial crisis
00:13 and that was the right thing to do to rebuild the public finances but that has gone now
00:18 and we don't have any intention of bringing that back.
00:21 I know how important a vibrant financial services sector is to our economy and indeed how important
00:29 a successful financial services sector is to the whole economy because every family
00:34 looking for a mortgage or to save for the future or any small business seeking a loan
00:41 to get started and grow the business, having a financial services sector that is working
00:46 properly and doing its job is hugely important and as Chancellor of the Exchequer I would
00:52 want to be a champion of a successful and thriving financial services industry in the

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