Cable: Banks need robust action

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The Business Secretary, Vince Cable, has pledged to take a firm line against bank bonuses.

Cable told Andrew Marr that he would take a "robust action" on the "scandalous" and "completely unjustified" payouts by banks in Britain.

He also set out contingency plans should banks not curb the bonus culture, saying:

"If they don't behave, if they don't take account of their wider responsibilities the Government has, as a possibility, some form of taxation, various ways of doing this. But we rather they accepted that they had wider obligations to British business and to the public."

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