Poll reveals majority support for cap on bank bonuses

FINANCIAL SERVICES

Poll reveals majority support for cap on bank bonuses

As reported in The Observer newspaper yesterday, new polling by political pressure group Compass shows overwhelming support for wholesale reform of the financial sector, with 76% of those quizzed supporting a cap on bonuses

The YouGov poll reveals “massive levels of public support for the government to take much tougher action on the financial sector and introduce new regulations,” says Compass.

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Key poll findings

• 76% support caps on bonuses
  

• 75% are worried that banks have not changed and are still not being properly regulated which could be bad for the economy
  

• 68% support separation of retail and investment banks
  

• 59% support repeating the one-off windfall tax on bankers' bonuses
  

• 60% support for the one-off windfall tax to be extended to hedge funds and private equity houses
  

• 51% support a financial transactions tax.

Want to know more?

Download the YouGov poll results at www.compassonline.org.uk/news/item.asp?n=7119.

Compass is a “democratic left” pressure group, “building the ideas and organisation for a new progressive consensus based around our core values of democracy, equality and sustainability”. For more details visit www.compassonline.org.uk.