RBS pay stance tough

U.K. Prime Minister David Cameron said he will seek to bring down the level of compensation per person at Royal Bank of Scotland, hardening his stance on pay at the state-owned lender.

'With our particular responsibility for RBS, I can tell you that I don’t only want to see the level of pay and bonuses come down overall, I want to see it come down per person, per capita as well,' Cameron said in an interview with Sky News television Thursday in Davos, Switzerland.

Bloomberg reports that the comments come a week after Cameron pledged to veto any attempt by RBS to raise its total pay bill. 'If there are any proposals to increase the overall pay, that is the pay and bonus bill, we will veto it', the premier told lawmakers on January 15th. He also said the cash-bonus limit of $3,325 at RBS will be repeated this year.

To access the complete Bloomberg article hit the link below:

Cameron Says Level of Compensation for RBS Employees Should Fall

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image: © Elliot Brown

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