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Bank Charges: Bonus pay talks to continue over Christmas

Talks between the UK government and British bank chiefs over proposed bonus rulings will continue over Christmas, it has been revealed.

The bosses of the five biggest banks in the UK met with the Chancellor George Osborne and Business Secretary Vince Cable today (21st December), to thrash out an agreement on curbing excessive bonuses.

A spokesman stated that the banks put forward a number of proposals and that the talks were constructive.

He said: "The Government affirmed its desire to see a strong, responsibly and internationally competitive financial sector.

"These proposals will be the subject of further discussions over the Christmas period with the aim of building a sustainable, co-operative relationship between the lenders and Government in 2011 in support of the economic recovery."

The commitment to continue the dialogue throughout the festive period will allow the two sides to meet their initial deadline and reach a deal before the end of the year,

Posted by John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance ADNFCR-2776-ID-800305279-ADNFCR

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