Phi Wire Hand Picked Politics - Live

  • James Bloodworth | Behind the headlines: Is it really a ‘shock’ drop in violent crime?

    • source icon
    • 09:45
  • One year since the deaths of garment workers in Rana Plaza, Bangladesh - need st...

    • source icon
    • 09:32
  • Boris Johnson | A very happy St George's Day to everyone. It's also Shakespeare's 450th birthday...

    • source icon
    • 09:31
  • A happy 450th birthday to the West Midlands' most famous son, the proudest boast...

    • source icon
    • 09:26
  • Allister Heath | Vince Cable is fighting yesterday’s battles on boardroom pay

    • source icon
    • 09:16
  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

Press Release

Press Releases

IEA: Capping bankers’ bonuses would be dangerous for financial stability

IEA press release

Commenting on the European Parliament’s provisional deal to cap bankers' bonuses, Mark Littlewood, Director General at the Institute of Economic Affairs, said:

“This is an arbitrary move which will serve only to drive business and talent away from the UK. With a larger financial services sector than other member states, this policy will have a disproportionately damaging effect on the UK economy.

“Aside from undermining the competitiveness of the UK’s financial sector, the introduction of caps would be highly dangerous. Increasing the fixed costs of banks would mean they would be unable to reduce their costs when things go wrong. Removing the ability to control risk is the worst possible strategy.

“If the EU is to insist on regulatory measures then it would be better advised to defer bonuses by providing them in shares, which national regulators have gone someway to achieving. This is yet another example of the European Parliament trying to exercise its muscle without any rationale."

Latest on this story

  • |

  • |

  • |

  • |

  • |

  • |

  • |

  • |

  • |

  • |


Latest on Mark Littlewood

  • |

  • |

  • |

  • |

  • |


Latest on Financial Services