Belfast Telegraph

Saturday 30 August 2014

Brown: I’M appalled by bonuses

Prime Minister Gordon Brown

Prime Minister Gordon Brown has said he was “appalled” at the behaviour of City firms reverting to the excessive bonuses that fuelled the |financial crisis.

Mr Brown accused some institutions of returning to, and extending, the bonus culture which pre-dated the turmoil.

In an interview to mark the first anniversary of the collapse of investment bank Lehman Brothers, he warned that next week’s G20 gathering would be taking global action against the problem.

Speaking to the BBC, he said: “I’m appalled that some institutions are already wanting to return to the old ways.”

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