Banking

The new chancellor, Jeremy Hunt, is pressing on with plans to scrap the bankers’ bonus cap, protecting one of the most divisive policies from his predecessor’s disastrous mini-budget.Hunt made no mention of the EU-imposed cap, which limits payouts to two times bankers’ salaries, in his economic update on Monday in which he reversed nearly all of Kwasi Kwarteng’s 23 September announcements.However, a Treasury source told the Guardian the cap would still be removed. They explained that it was not included in Hunt’s list of policy U-turns, which included scaling back...