Ever since the UK left the EU, bank watchers have asked if the cap on bonuses would be removed. The policy was introduced in 2014 by the EU as a solution to the risk-taking banks fell into in the run-up to the financial crisis of 2008–9.
Now the government has confirmed it will remove the cap with immediate effect at the end of the month. The timing of the announcement is intriguing, as one might have expected such a significant policy to be unveiled in the Autumn Statement on November 22.
