Cameron pledges to tackle excessive banking pay

3 January 2012

David Cameron has pledged to combat the over-generous pay awards enjoyed by many professionals in the British financial sector during 2012.

During his New Year's message, the UK prime minister insisted the government will take strong measures to prevent individuals working for banks and other organisations in the monetary sector receiving unfair amounts of money.

Mr Cameron explained that, at present, those at the top "get rewards that seem to have nothing to do with the risks they take", while others struggle at the opposite end of the spectrum with no hope or responsibility.

With this in mind, he stated: "We will tackle excess in the City just as we're reforming welfare to make work pay and support families."

Furthermore, the official insisted the UK is being protected from the ongoing eurozone crisis due to the administration's deficit-reducing policies.

This comes after Mr Cameron recently dismissed the notion that Britain may leave the European Union in the near future.

By Tony Aynsley

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