Kwasi Kwarteng wants to remove the bankers’ bonuses cap – 16 votes of no confidence

If you were wondering whether the new cabinet has been listening to the people before setting its agenda – why? You know that’s not how they roll.

Nothing illustrates this quite as beautifully as the musings of Kwasi Kwarteng – the new chancellor.

Kwasi Kwarteng seeks to scrap bankers’ bonus cap to boost City https://t.co/cfput5N2hZ

— Financial Times (@FT) September 14, 2022

Describing his push to boost The City’s fortunes after a Brexit exodus as ‘Big Bang 2.0’, Kwarteng reportedly said the government needs to do things differently – as the Tories have traditionally been very much against allowing rich potential donors from hoarding profits during a real-terms reduction worker pay.

It went down like a blank sheet of A4 at a Royalist procession.

1.

Thank goodness. Who can be expected to perform well when bonuses are restricted to a piddling 200% of salary? https://t.co/PW0fZWS7OQ

— James Oh Brien (@mrjamesob) September 15, 2022

2.

In case you are wondering where this government’s priorities lie as millions head towards poverty this winter – they are refusing a windfall tax on exorbitant energy profits and now considering removing the cap on banker bonuses

— Liam Thorp (@LiamThorpECHO) September 15, 2022

3.

I’m old enough to remember when workers getting pay rises risked more inflation pic.twitter.com/xpOLGhpcMO

— James Felton (@JimMFelton) September 15, 2022

4.

They want to boost bankers bonuses? While also scrapping the corporation tax rise; not doing a larger windfall tax; allowing fracking; and having a go at employment rights?

Are they trying to help out Starmer's new speechwriter? https://t.co/SRPYjNzhK1

— Sam Freedman (@Samfr) September 14, 2022

5.

Excellent – because the biggest problem with our economy right now is definitely that bankers aren’t paid enough pic.twitter.com/6gnMb82gmq

— Caroline Lucas (@CarolineLucas) September 15, 2022

6.

The Tories 2 years ago: Let's all clap for our essential workers.
Without them this country would collapse

The Tories now: Be happy with your wages ya bunch of work shy commies!
Oh & we're lifting the bonus cap for bankers cause we fucking can.

— joe heenan (@joeheenan) September 15, 2022

7.

Imagine voting "leave" in 2016, having been told EU was source of this country's woes & leaving would let government improve your life, now to find one of only "Brexit benefits" = scrapping cap on City banker bonuses, as millions live in poverty with millions more in fear of it.

— Michael Dougan (@mdouganlpool) September 15, 2022

8.

I don't understand. Why on earth would former investment banker Kwasi Kwarteng want to lift the cap on investment bankers' bonuses?

— David__Osland (@David__Osland) September 15, 2022