LONDON, April 25 Britain's finance ministry said
it agreed with a decision by part-nationalised Royal Bank of
Scotland not to seek permission to be able to pay
bonuses worth double fixed pay.
The Treasury said on Friday an increase to the bonus cap at
RBS, which is still heavily loss-making, could not be justified.
RBS said on Friday that it wouldn't ask shareholders to back
the proposal at its annual meeting after UK Financial
Investments (UKFI), the body that manages the government's 81
percent stake, said it wouldn't support the resolution.
The Treasury said it would support state-backed Lloyds
Banking Group paying bonuses worth double fixed pay,
however. The government has begun selling off its stake in
(Reporting by Matt Scuffham; Editing by Steve Slater)