Chris Leslie MP, Labour’s Shadow Chief Secretary to the Treasury, responding to David Cameron’s comment on bank bonuses, said:

“David Cameron has refused to rule out approving bonuses of up to 200 per cent at RBS. It looks like he and George Osborne would approve such a request at a time when ordinary families face a cost-of-living crisis and bank lending to businesses is falling.

“A cap on total remuneration is a complete red herring because RBS is cutting another 2,000 jobs in its investment bank and many executives were paid bonuses worth more than 100 per cent of their salary last year.

“We need change and reform of our banks, not the business as usual approach of David Cameron and George Osborne.”