No deal on pay transparency

first_img KCS-content whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ THE government is unlikely to win concessions on pay transparency for banks but will instead secure a promise to increase lending to small and medium-sized businesses.Despite a campaign by some politicians, who have called for banks to reveal how many employees receive over £1m in pay, divisions among banks make it unlikely that an agreement will be reached. Banks with a high portion of their revenues drawn from abroad – including HSBC, Barclays and Standard Chartered – have argued that revealing how many employees receive over a certain threshold would cause less well-paid employees to demand pay rises, causing wage inflation. They say that such rules should only be implemented if they are global to ensure “a level playing field”.Instead, banks will commit to increase their lending to small businesses by some £10bn.However, a lack of cooperation on pay transparency is likely to stir divisions within the coalition government. The Liberal Democrats have championed transparency.Lib Dem Treasury spokesman Lord Oakeshott said yesterday: “We are not going to be blackmailed.” He added that “the bonus problem… is the number one item in our coalition agreement”.He also emphasised the difference between the Tories’ position and that of his party, saying: “David Cameron is a Conservative prime minister, but that doesn’t mean we’re not going to implement the coalition agreement.”Further action on bankers’ pay has been championed by business secretary Vince Cable, but he is keeping a low profile after making unguarded statements about Rupert Murdoch to undercover reporters in December. whatsapp Sharecenter_img No deal on pay transparency by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Sunday 9 January 2011 11:05 pm Tags: NULLlast_img

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