Only 15% of public support plan to axe bankers’ bonus cap

Chancellor Kwasi Kwarteng under fire over ‘obscene’ proposal to ditch limits on pay-outs

Liz Truss’s chancellor Kwasi Kwarteng (Getty Images)

Only 15 per cent of the public support the idea of ditching the cap on bankers’ bonuses introduced in the wake of the 2008 financial crisis.

Chancellor Kwasi Kwarteng has come under fire for considering a plan to axe the cap and allow bankers income to soar while millions struggle from the cost of living crisis.

Unions, MPs and economists have criticised the “obscene” proposal to end the cap introduced across the EU in 2014, which limits annual pay-outs to twice a banker’s salary.