George Osborne's call for bonuses to be paid in shares angers City - papers

Lord Oakeshott of Seagrove Bay, the Liberal Democrats' Treasury spokesman, said that the Shadow Chancellor's plans would mean taxpayers footing the bill for City bonuses. "If state-owned banks such as RBS and Lloyds pay bonuses using shares, they would have to issue new equity, which would dilute the taxpayer's holdings," he said. "George Osborne clearly does not understand how shares work . . . His ignorance is toe-curling and he hasn't a clue how markets and public companies operate." See story...