City bonus clean-up

Sunday, 21 Sep 2008 12:46

City bonus clean-up

City of London

Sunday, 21, Sep 2008 12:00

Gordon Brown's suggestion the government may introduce a crackdown on City bonuses has prompted mixed reactions.

The prime minister is worried by the bonus culture among traders in the City and is determined to push through changes following the current international global economic problems.

Mr Brown's comments to the Labour conference in Manchester come as he prepares to fly to the US on Wednesday to address the situation, on which he blames many of the current problems.

It is not yet clear what form such curbs would take. Legislation seems unlikely but the Financial Services Authority would probably be involved in some way.

Osborne: Brown created the City monster

Brown: Time to act against unacceptable bonuses

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