George Mudie
Main Page: George Mudie (Labour - Leeds East)Department Debates - View all George Mudie's debates with the Department for Education
(12 years, 3 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Speaker
That question is fascinating, but sadly it bears absolutely no relation to the question on the Order Paper, so the hon. Gentleman should keep it for the spring, or some other suitable time.
Mr George Mudie (Leeds East) (Lab)
In view of the Secretary of State’s answers, will he assure the House that he has made representations to the Chancellor and United Kingdom Financial Investments Ltd to make sure that in the RBS last year’s practice of giving 323 bankers bonuses in excess of £1 million is not repeated, and that the anticipated payment of £4.5 million to John Hourican, a senior banker in RBS, does not go ahead?
Vince Cable
Of course there is a continuing issue with the scale of bonuses in RBS, but they are vastly reduced from their former level. We are conscious of the issues involved. Many of those people are American traders operating in the United States, but we are conscious that every amount that goes out in bonuses is money that could otherwise have gone to small businesses.