The chancellor’s priority should be getting wages rising – not boosting bonuses for those at the top

Commenting on mooted government plans to scrap the cap on banker bonuses, TUC General Secretary Frances O’Grady said:

“Bonuses in the City are already at a record high.

“While City executives rake it in, millions are struggling to keep their heads above water.

“Working people are being walloped by soaring prices after the longest and harshest wage squeeze in modern history.

“The chancellor’s number one priority should be getting wages rising for everyone – not boosting bumper bonuses for those at the top.

“To get pay rising across the economy, the chancellor must deliver a plan for a £15 minimum wage, fund decent pay rises for all public sector workers and introduce fair pay agreements for whole industries.

“That’s how you boost pay packets in every corner of the country.”