- British Finance Minister Kwasi Kwarteng has axed a cap on bankers’ bonuses in an effort to boost London’s finance sector after Brexit.
- The move to boost bankers’ income has prompted strong criticism from opposing parties and unions, given that the country is in the middle of a cost-of-living crisis.
- In another boost to high-earners on Friday, Kwarteng removed the 45% top rate of income tax levied on earnings above 150,000 pounds ($169,000, €168,624).
UK axes cap on bankers’ bonuses in boost to rich 23.09.2022
