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13/02/2015
Labour Propose Extended 'Clawback' Period For Rogue Bankers
The Labour Party has proposed new banking reforms that would see those guilty of misconduct made to repay bonuses going back 10 years.
Shadow chancellor Ed Balls said that the current "clawback" period of seven years, is "too weak" and that extending the timeframe would ensure bankers "pay a price".
Mr Balls announced the proposal ahead of Labour's publication of its banking reform paper, which will lay out its economic plan.
The Conservatives dismissed the proposal, saying that "nobody will trust a word Mr Balls says".
(MH/IT)
Shadow chancellor Ed Balls said that the current "clawback" period of seven years, is "too weak" and that extending the timeframe would ensure bankers "pay a price".
Mr Balls announced the proposal ahead of Labour's publication of its banking reform paper, which will lay out its economic plan.
The Conservatives dismissed the proposal, saying that "nobody will trust a word Mr Balls says".
(MH/IT)
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