A £2,000 Cap On Bank Bonuses Is Fair

David Cameron's proposed £2,000 cap on bonuses at those banks bailed out by the taxpayer is completely fair - as well as quite a neat way of dealing with the issue, since it means junior staff can still get their performance-related pay, but the City traders don't. The arguments against don't begin to stack up. It doesn't matter if people leave. RBS isn't going to go back to being a hyper-aggressive global bank, so it doesn't need them. Neither is HBOS. As for the contracts, test it in court. The bank was bust, so presumably all the employment contracts can be re-written. The fact the government has taken so long to get to grips with this issue show just how clueless it is.