Chancellor of the Exchequer George Osborne will argue British banks should have the right to pay large bonuses when he attends a meeting of European finance ministers next week, the Financial Times reported.
Osborne will argue against a draft European Union proposal for a one-to-one bonus-to-salary ratio at a July 10 meeting, the newspaper said, citing unidentified Treasury officials. Britain is in the minority in its opposition to the cap, the FT said.
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