Boris Johnson has clarified that he is not planning to ease restrictions on bosses’ pay or lift the cap on bankers’ bonuses, as the cost-of-living crisis continues. A leaked letter seen by the i newspaper showed No 10 chief of staff Steve Barclay presenting a post-Brexit plan to remove pay restrictions on non-executive directors. Previously Mr Johnson blasted a European Union rule limiting bankers’ bonuses to twice their salary, back when he was London Mayor in 2013. Mr Johnson had previously criticised the EU rule on limiting bankers' bonuses (PA)As the Prime Minister attended a Commonwealth summit in Rwanda on Thursday, he faced questions over whether he will use his new Brexit freedoms to allow bigger bonuses for bankers. Asked if the increase will go ahead, Mr Johnson said: “That’s the plan that the Chancellor has set out.

Source: The Times June 24, 2022 07:29 UTC