BBA statement on George Osborne

[Legal Beagles]

In response to George Osbornes speech today, the British Bankers Association said:UK banks understand that stories about high pay and bonuses causes%26nbsp;anger%26nbsp;and concern individuals.%26nbsp;Most retail banks%26nbsp;are weathering the economic downturn well and have not%26nbsp;used any taxpayers%26nbsp;money. We have always said that bonuses need to be tied to the long-term success of the business and cannot reward undue risk-taking. Working with our regulatory authorities, we believe the commitment we have now made to this principle is unequivocal and total.

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