Bankers’ pay

Bankers’ bonuses are under unprecedented scrutiny after government proposals and the Walker review put their remuneration in the spotlight.

The financial services bill, which has its first reading in the Commons this week, will give the Financial Services Authority (FSA) the power to curb City bonuses it considers excessive.

The Walker review called for banks to be forced to reveal how many people earn more than £1 million in their organisation, although it did not press them to reveal earners’ identities.

But many critics say the proposals do not go far enough, and the Walker review was given a particularly icy reception after some analysts objected to its lack of bite.