Chancellor Poised to Order Banking Review As Rbs Plans Gbp 1bn in Bonuses

Summary

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ALISTAIR Darling is set to announce an independent review into Britain's banking system amid concerns over lack of vigilance by directors and the prospect of huge bonuses for staff at institutions that had to be bailed out by the taxpayer.

News of the Chancellor's review follows reports last night that Royal Bank of Scotland (RBS) is proposing to pay close to GBP 1bn in bonuses to its staff, just months after its GBP 20bn taxpayer bailout.

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Chancellor Poised to Order Banking Review As Rbs Plans Gbp 1bn in Bonuses

The bank's board has begun discussions about the bonuses with UK Financial Investments (UKFI), the body set up by the T...

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