LONDON Jan 5 Britain plans tough action
to rein in what it regards as excessive bank bonuses, Deputy
Prime Minister Nick Clegg said, ahead of the annual round of
payments to star investment bankers.
"It is the Liberal Democrats who have led the debate on
clamping down on bankers' bonuses. We must be just as tough this
year in the bonus season that is coming up as we were last year,
if not more so," Clegg, leader of the Liberal Democrats, told
BBC Radio 4 on Thursday.
Britain owns 83 percent of Royal Bank of Scotland
and 40 percent of Lloyds Banking Group since bailing
them out. The Lib Dems are the junior coalition partner.
Prime Minister David Cameron said in November it was not
acceptable for RBS to earmark a reported 500 million pounds
($780 million) for 2010 bonuses. That total was little more than
half of what the bank paid out for 2009.
Analysts expect bank bonuses to fall nearly 40 percent,
reflecting falling revenues following the euro zone debt crisis.
($1 = 0.6406 pound)
(Reporting by Avril Ormsby and Keith Weir; Editing by Dan