I remember when I was paid bonuses - in two jobs - which, although I don’t think they were contractual, were certainly expected. Nothing like those in the “top league” of bank bonuses! But I sympathise with those lower down the chain if they were to be denied bonuses. But the thought of those earning £200k or above in salaries receiving bonuses is obscene.

 Can’t the Government make a simple rule of this kind probably setting the qualifying limit at salaries less than, say, £50k. If contractual rights are involved above this limit then those employees should be required to sign a document absolving their bank from its contractual obligations. It could be done - it seems it’s just the will that is lacking. Bankers won’t listen to appeals to their better nature but they might listen to reason if faced with a straight “take it or leave it” alternative. Why is this Government so weak?