Stephen Hester Bonus: Labour To Force Commons Vote On RBS Chief's Payout
Labour will force a Commons vote calling for Royal Bank of Scotland chief executive Stephen Hester to be stripped of his bonus, a party source said tonight.
It will hold an Opposition Day debate the week after next to heap pressure on the Government as the row continues to grow over the payment, which is worth almost £1 million.
Although the vote will not be binding it could prove deeply embarrassing for the coalition, which has faced widespread criticism for its decision not to block the bonus at the taxpayer-funded bank.
A Labour source said: "David Cameron's failure of leadership cannot be allowed to stand. We will force a Commons vote to let MPs show the public's disapproval of Mr Hester's bonus."
On Sunday, the chief secretary to the Treasury said that the Government was "protecting the taxpayer" by allowing the Royal Bank of Scotland bonus for chief executive Stephen Hester to go ahead.
On Saturday, Sir Philip, chairman of RBS since 2009, who had been on course to claim 5.17 million shares in the financial institution in February, told the bank's remuneration committee it would "not be appropriate" for him to take a £1.4 million payout.