Shadow chancellor George Osborne is set to demand the Government stops retail banks paying out big cash bonuses to high-flying staff. Skip related content
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Osborne to call for end to bankers bonuses
In a speech in London's Docklands, he will say the money should instead be put on to banks' balance sheets to support new lending to business and bolster economic growth.
The Conservative politician's call comes amid growing anger over Christmas-period handouts which are expected to run into billions of pounds in the City of London.
His speech will urge the Treasury and Financial Services Authority to threaten retail banks with a curb in taxpayer guarantees and liquidity support if they continue the cash bonus culture.
Instead, the Shadow chancellor will say that bonuses to high-performing staff should be paid in the form of shares in the business.
Mr Osborne is expected to say: "It is time for the Government to act - and act decisively. We cannot wait for the promised land of a new responsible bonus culture which looks more remote than ever. We need to take emergency steps to support bank lending and move the economy forward."
Tributes have been paid to a schoolgirl who died after slipping in her high heels and falling under a train while waving goodbye to her friends.
