Mark Carney, the governor of the bank of England, suggested in November that it was an area where the UK could deviate from the EU after Brexit. UK financial sector workers could still be bound by the European Union cap on bonuses following Brexit, after a Whitehall source refused to commit to dropping the scheme. The Department for Business, Energy and Industrial Strategy (BDE), which is responsible for setting up the scheme, said it was “working with industry partners in order to ensure that all employees are covered under EU However, insiders have said retaining the banking bonus cap, imposed by Brussels, is likely to anger senior figures in the industry.
UK financial sector workers could still be bound by the European Union cap on bonuses following Brexit, after a Whitehall source refused to commit to dropping the scheme. The Department for Business, Energy and Industrial Strategy (BDE), which is responsible for setting up the scheme, said it was “working with industry partners in order to ensure that all employees are covered under EU However, insiders have said retaining the banking bonus cap, imposed by Brussels, is likely to anger senior figures in the industry.