{"id":30586,"date":"2013-03-21T13:15:48","date_gmt":"2013-03-21T12:15:48","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/?p=30586"},"modified":"2013-03-21T13:15:48","modified_gmt":"2013-03-21T12:15:48","slug":"bankers-bonus-cap-system-is-easy-to-game","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/latest-news\/bankers-bonus-cap-system-is-easy-to-game\/","title":{"rendered":"Bankers Bonus Cap: System Is Easy To Game"},"content":{"rendered":"<p><a href=\"http:\/\/www.rinf.com\"><strong>RINF Alternative News<\/strong><\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-30588\" alt=\"parliament\" src=\"http:\/\/rinf.com\/alt-news\/wp-content\/uploads\/2013\/03\/parliament.jpg\" width=\"410\" height=\"270\" srcset=\"http:\/\/rinf.com\/alt-news\/wp-content\/uploads\/2013\/03\/parliament.jpg 410w, http:\/\/rinf.com\/alt-news\/wp-content\/uploads\/2013\/03\/parliament-75x49.jpg 75w, http:\/\/rinf.com\/alt-news\/wp-content\/uploads\/2013\/03\/parliament-150x100.jpg 150w, http:\/\/rinf.com\/alt-news\/wp-content\/uploads\/2013\/03\/parliament-383x252.jpg 383w\" sizes=\"auto, (max-width: 410px) 100vw, 410px\" \/><\/p>\n<p>Tory MP Mark Garnier has warned that a\u00a0cap on bankers\u2019 bonuses will be ineffective.<\/p>\n<p>On Wednesday night\u00a0EU politicians passed a\u00a0passed the bonus cap in Parliament, capping bankers&#8217; bonuses at \u00a0a maximum of twice their base salaries, starting in 2014.<\/p>\n<p>Speaking at an\u00a0ACCA\u00a0meeting, Mark Garnier warned: \u201cBanks are going to get around [the cap], of course they\u2019re going to get around it.\u201d<\/p>\n<p>He suggests that\u00a0banks could circumvent the EU banker bonus cap through buying houses from bankers, stating:<\/p>\n<blockquote><p>&#8220;You can go to a banker and say you\u2019ve got your house in Holland Park or Maylebone for \u00a33m, we\u2019ll buy it off you for \u00a35m and actually that\u2019ll be a tax-free bonus because it\u2019s your principal place of residence and you avoid it.<\/p>\n<p>&#8220;People will always game the system and it\u2019s up to HMRC to try and deal with it.&#8221;<\/p><\/blockquote>\n<p>He also points out this\u00a0<em>Daily Telegraph<\/em>\u00a0cartoon as a possible way bankers can easily get round the cap:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-30587\" alt=\"MATT-web_2496236a\" src=\"http:\/\/rinf.com\/alt-news\/wp-content\/uploads\/2013\/03\/MATT-web_2496236a-383x244.jpg\" width=\"383\" height=\"244\" \/><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Wednesday night EU politicians passed a passed the bonus cap in Parliament, capping bankers&#8217; bonuses at  a maximum of twice their base salaries, starting in 2014. But the cap will be ineffective. <\/p>\n","protected":false},"author":1,"featured_media":30588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[461,52,18,1615],"tags":[55],"class_list":{"0":"post-30586","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-editorials","8":"category-money","9":"category-latest-news","10":"category-uk-news","11":"tag-uk-news"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/30586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=30586"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/30586\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media\/30588"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=30586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=30586"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=30586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}