Chairman of the Royal Bank of Scotland (RBS), Sir Philip Hampton, has admitted that bankers’ pay is too high.
However, while conceding that bankers’ pay is “astonishingly high”, he said it is difficult to defend the gap between what most people earned and what some bank staff were paid.
Speaking to BBC Radio 4, Sir Philip [...]
The Royal Bank of Scotland (RBS), which is 84% state-owned, has been fined £28.6 million by the Office of Fair Trading (OFT) after admitting breaches of competition law.
RBS confessed to passing on loan pricing information to its rival Barclays and the OFT began its investigation after receiving a tip-off from Barclays.
According to the OFT, RBS [...]
In order to tackle the UK’s deficit, tax hikes could well be on the agenda, according to reports today.
Last week, Chief Secretary to the Treasury Liam Byrne suggested that no new tax rises will be required in order to cut the UK’s ballooning deficit.
However, in a dramatic u-turn, asked by the BBC yesterday if he [...]