Barclays Bank says no bonuses for senior executives
Updated on 09 February 2009
As Barclays announces a £6bn profit for 2008, bank chief executive John Varley tells Channel 4 News he is already cutting back on reward payouts.
Barclays Bank has said it will not give bonuses to its senior executives this year, despite making a profit last year.
Britain's fourth biggest bank announced it made £6bn last year, but that was well down on the year before. And the chief executive, John Varley, said none of its directors would be given a bonus.
Treasury Minister Yvette Cooper said bankers had a "moral responsibility" to forego their bonuses this year, as pressure grows on the government to do more to curb executive pay.
Interview: John Varley
Earlier today our economics correspondent Faisal Islam met the Barclays group chief executive John Varley.