Cap City Wages and Tax Bonuses at 90%, Chancellor Is Told

Evening Standard - London › August 17, 2009

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Summary

CHANCELLOR Alistair Darling was under pressure to introduce a "maximum wage" in the City today after he signalled new laws on bankers' bonuses.

Mr Darling, who is standing in for the Prime Minister this week, was urged to cap the pay of the highest earners by a coalition of Labour MPs, unions and LibDem Treasury spokesman Vince Cable.

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Extract

Cap City Wages and Tax Bonuses at 90%, Chancellor Is Told

Among the proposals to curb "excessive pay" are a 90 per cent tax on mega-bonuses and a "maximum wage ratio" ...

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