United Kingdom

Government accused of hypocrisy over plans to reduce bank chiefs’ pay limits

Boris Johnson’s government has been accused of hypocrisy because it plans to reduce control over the pay of City bosses, while calling for a reduction in public sector wages.

It is alleged that Chief of Staff № 10 Steve Barkley wrote to Chancellor Rishi Sunak with a plan to “deregulate measures to reduce the overall burden on business” and attract companies after Brexit.

This would include removing some restrictions on the remuneration of directors and non-executive directors, according to an expired copy of the letter seen in newspaper i.