Wishart – Banking Promises Must Be Kept

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Speaking after a recent statement by the Chancellor, Pete Wishart gave his support to proposals to increase bank lending and reign in bankers bonuses.

Mr Wishart said:

“The lack of credit for businesses has been a persistent problem, and so progress on lending is particularly welcome and we now need to make sure that new lending gets to those businesses that need it, and will not be subject to excessive high fees and charges.

“Bankers have been slow to recognise how unpalatable people find the level bonuses made to senior executives and so progress which will see the bonus pot reduced to the eleven billion is a welcome step in the right direction.

“It is also welcome that cash bonuses at RBS and Lloyds will be capped and that senior bonuses will only be paid in shares. I have consistently called for bonuses, where they must be paid, to be issued in shares and therefore, to be locked into the longer term future of the businesses. I hope that all banks will take this on board.”