Lord Eatwell
Main Page: Lord Eatwell (Labour - Life peer)Department Debates - View all Lord Eatwell's debates with the HM Treasury
(14 years, 1 month ago)
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Lord Sassoon
My Lords, I have said that we have already taken action and are continuing to consider other possible actions in this area.
Lord Eatwell
My Lords, I was intrigued by the Minister’s identification of remuneration with risk taking. Are not bonuses usually paid to bankers for taking risks with other people’s money?
Lord Sassoon
My Lords, that is precisely why we want to make sure that there is a better alignment between the way that remuneration is paid and the mitigation of risk that should be there. It is precisely to get a better alignment with the risks that are incurred that we are supporting the measures that are being taken globally—limiting the amount of bonus taken up front in cash and deferring a significant proportion of bonuses in line with the proposals of the G20.