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Lloyds bank investors hit back over company bonus scheme

While the UK government has been very vocal in the press in relation to the control of financial salaries and financial bonuses, there does not appear to be any restraint at Lloyds bank. This is a bank which is now 43% owned by the UK government, on behalf of UK taxpayers, but one which has apparently allowed main board directors to allocate significant bonus schemes to those at the top. This would appear to go completely against the UK government's advice to the sector and many are astounded as to why the UK government is apparently happy to stand by and let this happen.

The forthcoming Lloyds bank AGM is sure to be a very stormy affair as various large investors have already made clear their concerns and their worries about the operation and the way it is being run. However, the UK government, a 43% stakeholder, will have the final say on a number of matters although it could abstain from any votes as a way of avoiding any potential controversy. Then again, as a significant shareholder in the business surely it is the obligation of the UK government to do "what is right"?

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