PPI Claim News - 14/1/2010
PPI Claim: Minister defends RBS bonuses
Financial services minister Lord Myners has defended the Royal Bank of Scotland Group's (RBS) bumper bonuses.
When questioned by the House of Commons Treasury Select Committee, he said that the bank needed to be able to compete to attract the best talent.
The former banker, who used to work for Rothschild before becoming a government minister, said that there was a risk that RBS would be damaged as a business if it was unable to pay high salaries and large bonuses.
This could have a knock-on effect on employment, he suggested.
He told the committee: "If we said to RBS that you can only pay your key employees up to the national average or some other arbitrary figure, the effect would be a significant erosion in the competitiveness of the bank," the Independent reports.
Earlier this week, chief executive of RBS Stephen Hester gave evidence to the committee, saying his company would only pay the "minimum" it could get away with, and promised that very few employees earning more than £39,000 would receive a cash bonus.
RBS' bonus pot is reportedly worth £1.5 billion this year.
If you would like to make a credit card charges claim to get back all your late payment / over limit fees in the last 6 years from Royal Bank of Scotland then fill out the Quick Claim or call Belmont Thornton on 0845 526 0000 .
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