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Page last updated at 10:23 GMT, Monday, 30 January 2012

Hague: 'We have taken action on bonuses'

Foreign Secretary William Hague has said he welcomes RBS boss Stephen Hester's decision to turn down his bonus, but that it was not for ministers to intervene on individual bonuses.

Speaking to Today presenter Evan Davis, he said that the government had set "strict rules" on bonuses, which had changed "enormously" the culture of pay in banking.

"But the big change from the excessive bonus culture of several years ago has been brought in and is very necessary. If we need to do more we will do," he said.

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