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Bank charges: Lloyds boss set for £2m bonus

Eric Daniels, chief executive of Lloyds, is to receive a £2 million bonus less than two months before he leaves the company.

The £2 million is on top of his £1 million per year pay package, sparking fury among the public.

This announcement follows news that Stephen Hester, head of RBS is to receive a £3 million bonus and Barclays chief executive Bob Diamond is to pocket £8 million.

Ed Miliband, leader of the Labour party, has criticised David Cameron and Nick Clegg for not tackling the issue of bankers pay.

Prior to becoming prime minister, Mr Cameron had said he would ban on banker bonuses of more than £2000.

Mr Miliband said: "The country is getting fed up with the prime minister's pathetic excuses on the banks.

"Can he explain to the British people why he thinks it is fair and reasonable, at a time when he is raising taxes on everyone else, to be cutting taxes this year on the banks?"
John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.

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