Analysis-Bonus freedom to pay paltry ‘Brexit dividend’ for Britain’s banks

Banks in Britain may be free to award even bigger bonuses from January but new pay perks are unlikely to help the country's financial industry outshine its rivals because top bankers are wary of swapping handsome fixed salaries for uncertain rewards. Scrapping the near decade-old cap on bonuses is a core plank of Britain's post-Brexit easing of rules the European Union adopted to stop excessive risk-taking after taxpayers had to bail out banks in the global financial crisis. The outcome of a Bank of England and Financial Conduct Authority consultation on the proposal to remove curbs on bonuses is due in coming weeks.