European Council

Grahame Morris Excerpts

Monday 20th December 2010 Commons Chamber

[The Prime Minister]

I thank my hon. Friend; I am glad that Royal Mail is working effectively. [Interruption.] Opposition Members are shouting, “Where are ours?” Any unhappy Back Benchers who do not feel that they are getting enough love from their Front Benchers can join the love train and get a “Happy Christmas” card from me.

[Grahame M. Morris (Easington) (Lab)]

Bankers’ bonus payments rankle with ordinary hard-working families. Did the Prime Minister discuss—formally or informally—with his colleagues at the summit making a collective EU agreement to limit bankers’ bonus payments?

[The Prime Minister]

Normally, there are long discussions about banks and bonuses. We had a lot of discussion about the need to improve the performance of banks, their balance sheets and their lending practices, but there was no long discussion about bank bonuses. There have been good international agreements on bank bonuses, and we have added to them in this country through the bank levy, which will raise more in every year than the previous Government’s bonus tax raised in just one year.