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Like a dog without a bonus

Contrary to prior reports, RBS chief Stephen Hester is ‘unlikely’ to receive a bonus windfall for 2010, according to Sky sources.

Sky's City editor Mark Kleinman, claims the bank, which is majority-owned by the taxpayer, will probably make any payout to Mr Hester only in shares and it could also defe it for years.

Prime Minister David Cameron has described as ‘pure speculation’ reports that Mr Hester would receive £6.8m in bonuses, salary and other payments this year.

Speaking on the BBC's Andrew Marr Show, the Prime Minister warned RBS over excess bonuse. He saids: ‘On the general, I want to see the bonus pool smaller than last year, on the specific, Royal Bank of Scotland, as you rightly say, is owned by the Government.

‘They should not be leading the way on bonuses, they should be a back-marker.’

The PM went on to say that she understands public rage over bankers' bonuses.

‘I feel it because frankly the whole country has suffered from irresponsible lending practices, irresponsible behaviour,’ he said.

‘But we need to recognise though that there were a lot of people to blame for the mess we are in and that we shouldn't just think it's an easy scapegoat to pick one in view.

‘Governments made mistakes, regulators made mistakes, politicians made mistakes, everyone was involved. Opposition made mistakes, dare I say it.’

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