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Commenting on plans announced in Brussels today (Thursday) that bankers' bonuses are to be capped across Europe, TUC General Secretary Frances O'Grady said:

date: 28 February 2013

embargo: For immediate release

Commenting on plans announced in Brussels today (Thursday) that bankers' bonuses are to be capped across Europe, TUC General Secretary Frances O'Grady said:

'For all their tough talk on bonuses, the Prime Minister and the Mayor of London are today standing up for the cosy pre-crash arrangements in the City, when bankers pocketed billions of pounds of undeserved bonuses and reckless decisions brought us to the brink of financial ruin.

'But ordinary people, who have been made to pay for the folly of bankers, have longer memories and will not tolerate a return to the pre-crash status quo.

'The EU is absolutely right to push ahead with its bonus cap, and the UK government should start siding with the interests of the electorate and the wider economy, rather than the rich and powerful elite in the City.'

NOTES TO EDITORS:

- All TUC press releases can be found at www.tuc.org.uk

- Follow the TUC on Twitter: @tucnews

Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: media@tuc.org.uk
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: rholdsworth@tuc.org.uk
Alex Rossiter T: 020 7467 1337 M: 07887 572130 E: arossiter@tuc.org.uk

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