Reacting to Stephen Hester’s decision to waive his bonus of nearly £1 million from the Royal Bank of Scotland, Green Party Mayoral candidate Jenny Jones said:
"We should be pleased rather than grateful that Stephen Hester has decided to return our money.
"However we can’t rely on the individual conscience or greed of bankers to regulate how much is taken by the industry’s leaders. Hester’s bonus reflects a systematic problem with banking and rather than the puny moral outcry we hear from the backbenches of Westminster every year, we need concrete proposals that lead to definitive change.
"The Green Party in London has begun the campaign to institute a 10:1 maximum pay ratio. Of course, we want to ensure that this is applied to organisations that are run by the Greater London Authority. But we are also committed to introducing a Fair Pay Mark that the Mayor will award to any public or private employers adopting similar policies."
