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Government Restricts Bonuses & Free Shares
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Date: 7th Mar 2009
Today the Bank has announced that, in order to participate in the Government’s Asset Protection Scheme, which will see billions of mainly HBOS ‘toxic’ assets being insured, it has been forced to implement fundamental and far reaching changes to existing bonus arrangements.
Mark Brown, Assistant General Secretary, said "The conduct of politicians in forcing the Bank to
restrict bonuses and possibly pay increases for many managers and staff is completely unacceptable
and LTU will be doing everything it possibly can to reverse this situation."
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