Qualified advisers answering your
Financial Questions
call 0800 092 1245

Are the banks finally listening to the government and UK taxpayers?

Over the last few days we have seen the likes of Lloyds bank and Royal Bank of Scotland backtrack on some of their earlier promises to increase salaries and increase bonuses. This is a welcome surprise for the UK government and UK taxpayers amid signs that finally the banks are starting to listen and take appropriate action. So what has brought about this U-turn from the banking community?

The introduction of the Association of British Insurers (ABI), one of the strongest and most influential shareholder groups in the country, it is perhaps the reason why UK banks have taken a different tack over the last few days. The ABI, often working behind the scenes and away from the public eye, has been very vocal in a number of attacks against the Royal Bank of Scotland and Lloyds bank with regards remuneration and bonus packages. The ABI has the ability to bring together shareholders who could ultimately vote against such packages, which historically have been waved through with very little in the way of comment or opposition.

Whether we are entering a new age when the ABI and other shareholder groups will be more active regarding bonuses and remuneration packages remains to be seen, but the recent intervention is appreciated by many.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details