Labour MP introduces Bill to cap bankers' pensions

Clywd will present the Bankers Pensions (Limits) Bill following the Private Member Bill procedure under the 10-minute rule, which is a procedure for backbenchers to introduce a Bill to parliament. A spokesman confirmed the Bill would "make provision for the pension of board members of banks that are wholly or partly in public ownership to be limited in certain circumstances". The initiative follows the public outrage that erupted when it was made public that RBS chief executive Sir Fred Goodwin was entitled to a £650,000 a year pension that he refused to give either back fully or partia...