Lloyds Banking Group: Staff find out who receives £80m bonuses

Today is the day when staff at Lloyds Banking Group (LON:LLOY) find out who will receive £80 million in bonuses. Members of the majority taxpayer-owned Lloyds board have said that they will forgo their payments; the bank has said that staff will get on average £17,000 each.staff who received bonuses would be those earning on average £17,000.

BBC news reports that their political correspondent Ian Watson said that MP’s are certain to question these payments. The announcement of these bonuses comes just days after the government increased their share in the bank to 65%.

The government will have to do something about these huge payouts, with not only Lloyds, but also all the other banks that they have shares in. It seems that the government is giving these banks an open cheque and allowing them to spend the money how they like, not thinking of the taxpayer, who are the real owners after all.

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