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max ddp modified	2023-12-05T21:50:03.588Z
answering body	Treasury
min ddp created	2019-10-17T17:45:41.653Z
creator › label	Biography information for Baroness O%27Grady of Upper Holloway
min ddp modified	2019-11-05T08:45:07.638Z

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registered interest

date

exactly:

or between:
and

answering body

answering dept id

answering dept short name

answering dept sort name

hansard heading

house id

legislature


pref label

question text

tabling member printed

uin

answer

is ministerial correction

date of answer

exactly:

or between:
and

answer text

answering member printed

question first answered

answering member


label

tabling member


label

1668110

registered interest

date

07/11/2023

answering body

Treasury

answering dept id

answering dept short name

Treasury

answering dept sort name

Treasury

hansard heading

Banks: Pay

house id

legislature

25277

pref label	House of Lords

question text

To ask His Majesty's Government, further to the announcement by the then Chancellor of the Exchequer on 23 September 2022 to remove the cap on bankers' bonuses (HC Deb col 936), what consideration they have given to curbing any risk-taking in the financial sector which may occur as a result of the removal of that cap; and further to the finding in the High Pay Centre report Analysis of UK CEO Pay in 2022, published in August, that FTSE 100 CEO pay rose by 16 per cent in 2022, what consideration they have given to curbing the pay of senior staff in the financial sector, including by implementing the then Prime Minister's plans for the reform of boardroom governance in July 2016 by ensuring worker representation in boardrooms.

tabling member printed

Baroness O'Grady of Upper Holloway

uin

HL64

answer

is ministerial correction

date of answer

21/11/2023

answer text

As the Chancellor set out in the Edinburgh Reforms last year, the government remains committed to high standards and to a robust regulatory environment that safeguards the UK’s financial stability. The PRA and FCA, who are responsible for rules on remuneration, are operationally independent from government and have statutory objectives to promote safety, soundness, and effective market functioning. The removal of the bonus cap is entirely a decision by the independent regulators.

answering member printed

Baroness Vere of Norbiton

question first answered

21/11/2023 12:34:22

answering member

4580

label	Biography information for Baroness Vere of Norbiton

tabling member

4977

label	Biography information for Baroness O'Grady of Upper Holloway