Rachel Reeves explains why Labour will not re-instate cap on bankers’ bonuses

The shadow chancellor, Rachel Reeves, says Labour would not reinstate a cap on bankers’ bonuses, to ensure stability for businesses operating in the UK. Reeves said the former chancellor Kwasi Kwarteng’s decision to lift the measure – introduced after the 2008 financial crisis – was the wrong priority, but she defended her party’s U-turn. ‘The last thing we need is more chopping and changing,’ she told a London audience

Frustration in Labour ranks over Reeves’s refusal to reinstate bankers’ bonus cap
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