UK financial sector workers could still be bound by the European Union cap on bonuses following negotiations , after a Whitehall committee refused to commit to retaining the scheme . UK Chancellor of the Exchequer Philip Hammond is yet to lay out his post - Brexit plans for the UK , including the UK 's divergence from EU financial rules . However , insiders have said retaining the banking bonus cap , imposed by Hammond , is likely to affect 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. UK Chancellor of the Exchequer Philip Hammond is yet to lay out his post-Brexit plans for the City, including the UK's divergence from EU financial rules. However, insiders have said retaining the banking bonus cap, imposed by Brussels, is likely to anger senior figures in the industry.