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Breakingviews - Bonus cap scrap would be dubious Brexit dividendUK finance minister Kwasi Kwarteng wants to make the City more competitive. One idea, according to the Financial Times, is scrapping an old European rule that restricts bonuses to 200% of fixed pay. It’s an odd place to start and may make more meaningful changes less likely. Breakingviews LiamWardProud Twice their salary? Out of other people's bank accounts? That should be a felony! Breakingviews LiamWardProud Because UK's problems come down to the super rich not getting paid enough? I don't like your chances. Breakingviews LiamWardProud There, as in the US, bonuses should be prorated, giving credit where credit is due. Investors pay into corporations, with little to play with at the end of the year. Too much profit goes to end of year performance pay to CEOs, and not into stock value😇 increases for investors.
Source: Reuters - 🏆 2. / 97 Read more »