Labour's decision not to reinstate the cap on bankers' bonuses has sparked criticism and debate. The Shadow Chancellor ruled out bringing back the cap, part of Labour's charm offensive with the City and business. SNP's Stephen Flynn and others criticize Labour's reversal, while some defend the decision, arguing that the cap had unintended consequences. The decision has led to questions about Labour's priorities and stance on wealth inequality and poverty. Various figures, including Sir U-Turn, have weighed in on the issue, with some expressing disappointment in Labour's position. The decision has become a key point of contention in the run-up to the next general election, with implications for the party's image and public opinion.
“The shadow chancellor’s refusal to reinstate the cap on bankers’ bonuses is a political signal.” 🖊️ @freddiejh https://t.co/Wcu6Ln1IJ0
For Labour, "tough choices" means hammering the poor, not taxing the rich. Labour will keep a Tory cap on struggling families which drives hundreds of thousands of children into poverty. Labour won't restore a cap on bankers' bonuses. What even is the point of Labour anymore? https://t.co/AeCUdidznZ
Labour WILL keep the two-child cap on Child Benefits but WONT cap bankers bonuses... Just think about that. #RochdaleByElection https://t.co/cxM2P75IGG
'Just to clarify, Labour's happy to cap child benefit but not bankers' bonuses?' 'I would not make that comparison'. @jreynoldsMP, Shadow Secretary of State for Business and Trade speaks to @KayBurley. https://t.co/IodbC7emBV
Scrap the 2-child benefit cap. Reinstate the bankers’ bonus cap. https://t.co/vBcztrWaqE
Kay Burley: "Just to clarify, Labour's happy to cap child benefit but not bankers bonuses" Labour shadow minister Jonathan Reynolds explains why Labour is on the side of bankers & not kids in poverty. https://t.co/HARyJjOVi0
Shadow Biz Secretary Jonathan Reynolds insists Labour never said it would reinstate the bankers’ bonus cap. “It was of its time,“ he says #r4today
UPDATE @unisontheunion general secretary Christina McAnea tells HuffPost UK: "Reckless banker behaviour and sky-high city bonuses helped cause the global financial crisis. A Labour government should reinstate the bonus cap." https://t.co/g7SblYx8xF
What Labour’s new ‘intensely relaxed’ approach to bankers’ bonuses tells us about what to expect from a Starmer Government https://t.co/g1yta2vNSw
Keir Starmer’s biggest gamble yet? Backing Liz Truss on bankers’ bonuses. Me for @indypremium https://t.co/96wyeZOGII
*JUST IN* Actual footage of Starmer and Reeves agreeing to scrap the cap on bankers bonuses has just landed. 🔊UP! #WolfofWallStreet #WolfofWestminster #Labour #GE24 https://t.co/JX2VjIGtOE
SNP Leader Stephen Flynn embarrasses Keir Starmer over Labour u-turn on bankers' bonuses at #PMQs https://t.co/FVP7rijTFk
'It's okay for bankers to have unlimited Brexit bonuses, but [not] for the public at home struggling to feed their families' says SNP's Stephen Flynn. Mr Sunak responds, claiming the Tories have done more for the Scottish people in terms of tax cuts than the SNP. https://t.co/TDmyjuXqSJ
SNP's Stephen Flynn critcises "Brexit red tape" and says families "have to suck up and deal with the additonal food price costs" "We're actually delivering benefits for people across Scotland," says PM Rishi Sunak #PMQs https://t.co/0cTJt7NE0a https://t.co/t8CsP1Irqi
Sunak closes #PMQs with the line he keeps pushing out: "It's a brighter future with us or back to square one with them" Interesting SNP's Flynn has a dig at LAB's decision not to reinstate cap on banker bonuses "shame on them" > Labour the battleground for both Cons & SNP in GE
The SNP’s Stephen Flynn goes in on Labour’s “shameful” reversal of its bankers bonuses policy. He asks Sunak whether he feels “comforted” that he’s no longer alone in being by “completely out of touch with public opinion”.
Sunak closes #PMQs with the line he keeps pushing out: "It's a brighter future with us or back to square one with them" Interesting SNP's Flynn has a dig at LABOUR over scrapping cap on banker bonuses "shame on them" > Labour the battleground for both Cons and SNP in next GE
Sir U-Turn strikes again! Labour WON'T reinstate cap on bankers' bonuses despite Keir Starmer raging against the Tories scrapping the policy to boost the City https://t.co/m1R1nDBqDW https://t.co/maXhve6Xzw
Refusing to scrap the 2-child benefit cap is a political choice to impoverish the worst-off. Refusing to reinstate the bankers' bonus cap is a political choice to enrich the wealthy. 4.2 million children are living in poverty, but will nobody think of the bankers?
Shadow Chancellor says Labour would not bring back bonus cap if it wins election… part of its charm offensive with City/ business… BoE also not keen on it, the Governor told me in November it was a “bad policy in its own right” saying they predicted a decade ago it would…
IMO bankers’ bonus debate gets more attention than it should. Highly symbolic for obvious reasons but v few bankers actually affected. Plus evidence shows the cap just increased fixed pay in banking sector. Would rather we talked about Labour position on two-child benefit cap! https://t.co/th3rH8rUcZ
Labour screeching U-turn alert. Party hammered the UK Con Govt when it scrapped the cap. “Shadow Chancellor rules out reinstating cap on bankers’ bonuses.” https://t.co/cpiERCxNBV