Brown talks tough on bonus culture, but no ban

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Last Modified: 09 Feb 2009
By: Faisal Islam

Prime Minister Gordon Brown slams the city's bonus culture, but stops short of actually banning them.

They're economically and politically outrageous, but they're not going to be banned.

Gordon Brown said Britain was leading the way in sweeping aside the city's bonus culture, insisting there would be no rewards for failure.

But despite the harsh rhetoric there are no concrete promises, unlike the United States which has just slammed a mandatory cap on top bankers' future pay.

The head of Barclays Bank told Channel 4 News bonuses were part of the problem, but he's not getting rid of them altogether.