Belfast Telegraph

Complaint filed on EU bonus cap

Press Association

George Osborne has filed a formal complaint against Brussels over plans to cap bankers' bonuses over fears the move will backfire and drive up salaries. The legal action was lodged on Friday, after it had been approved by the Chancellor. The Treasury said the European Union had gone beyond its remit in seeking to regulate bonuses, which had been decided without proper consultation and with no impact assessment.

George Osborne has filed a formal complaint against Brussels over plans to cap bankers' bonuses over fears the move will backfire and drive up salaries. The legal action was lodged on Friday, after it had been approved by the Chancellor. The Treasury said the European Union had gone beyond its remit in seeking to regulate bonuses, which had been decided without proper consultation and with no impact assessment.

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