Does the Cap fit? Will the EU Bankers Bonus cap help solve the problems with Banking?
Tuesday 10 December 2013
32-36 Loman St
London SE1 0EH
High Pay Centre discussion hosted in partnership with the Friedrich Ebert Stiftung
- Patrick Jenkins, banking editor of the Financial Times
- Natalie Bennett, leader of the Green Party
- Helen Kersley, programme head of Valuing What Matters at New Economics Foundation.
The EU decision to cap bankers' bonuses has been hugely controversial. George Osborne is taking court action to try and prevent bonuses being capped at a year's salary. Banks have argued the move will drive up salaries, increasing their fixed costs.
But five years on from the financial crisis, little appears to have changed in the way bankers are paid. Public anger at levels of pay in the financial sector remains high. Trust in Banks has plummeted, while events such as the LIBOR scandal have highlighted the potential of the bonus culture to do further damage to the sector.
We will debate whether the bonus cap is the right mechanism to resolve these issues over an informal lunch.
Location: CAN Mezzanine 32-36 Loman St, SE1 0EH
This is a free event. Lunch will be provided. Places are limited. Please reply to: firstname.lastname@example.org
Since 1 January 2017 the average FTSE 100 CEO has earned:
Income inequality in the UK
Wealth inequality in the UK
- Reality Bites - average FTSE100 CEO pay package down 17% on previous year
Political pressure, public disapproval and campaigning all combined to restrain pay at the top in 2016. But what next?
- CIPD/High Pay Centre survey of FTSE100 CEO pay packages 2016
Our joint annual survey of the state of top pay in the FTSE100
- A government which has lost its purpose
High Pay Centre response to the Queen’s Speech – 21 June 2017