David Cameron has warned bankers and business people in city offices will be accountable for economic failings.
He spoke in Canary Wharf, home to some of London’s most impressive commercial property and international financiers.
“It is fair and reasonable that those responsible are held to account for their behaviour and that we show clearly that in this country, there is not one rule for the rich and a different rule for everybody else,” he said.
He also asked for the Financial Services Authority to look further into financial crime.
He explained: “This is not, at root, about more legislation. The laws are already there. Rather, it’s about implementation and law enforcement.”
The Tory leader also criticised the bonus culture sometimes found in corporate sectors because it “encouraged short-term risk-taking instead of rewarding the long-term interests of shareholders and the public”.
Kate Lidbetter, a consultant with SKAI associates told Management Issues recently, the acceptance of pay as reward has led bosses to give up on finding other ways to motivate their staff.Share: