Cathy Jamieson MP, Labour’s Shadow Financial Secretary to the Treasury, responding to bonus awards at Barclays, said:

“These bumper pay-outs underline the case for repeating Labour’s successful tax on bank bonuses.

"This could fund a paid job for every young person out of work for 12 months or more, which they would have to take up or lose benefits.

"Labour’s plan will help us earn our way to higher living standards for all, not just a few at the top. And we will balance the books in the next Parliament, but do so in a fairer way by reversing David Cameron’s tax cut for millionaires.”