Bonus culture

30/01/12

RBS chief executive Stephen Hester has given up on his bonus, amid a growing public outcry.

The decision came after Labour threatened a Commons vote on the issue.

The bank boss was set for a £963,000 payment. Chairman Philip Hampton gave up £1.4 million in a shares reward a day earlier.

The government had previously claimed it could not intervene in the bonus decision without potentially triggering a board walkout and prompting chaos in the state-controlled bank.

Miliband: Hester has done right thing

Alexander: We used our influence

Unite: Better late than never

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