Page last updated at 11:21 GMT, Saturday, 31 January 2009

'Donate big bonuses', mayor urges

Boris Johnson
The mayor stressed that 'banker bashing' is counter-productive

Bankers could help rebuild their "public esteem" by donating large bonus payouts to charitable causes, London Mayor Boris Johnson has said.

The mayor made the comments to BBC Radio 4's Today programme from the World Economic Forum in Switzerland.

Mr Johnson said the banking industry required a "bigger and more public sense of duty".

The mayor also warned against a climate of "banker bashing" and over-regulation which could jeopardise the industry.

Mr Johnson said: "My feeling is that the banks and the bankers have a job now to repair their esteem in the eyes of the public."

But a culture of over-regulation could drive major financial sector employers out of London and put many more jobs at risk, he warned.

The mayor added that there were needy Londoners who could benefit from bankers' bonus money.

"I would like to see them assuage their consciences and do the right thing by London by giving their bonuses - and it is a disgrace that they are still getting (them) - by giving a share of their salaries to things like the Mayor's Fund for London, for helping disadvantaged children."

Print Sponsor



The BBC is not responsible for the content of external internet sites

Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit


Sign in

BBC navigation

Copyright © 2018 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific