Bonus bashing

It's worth remembering, in light of the Tories' capitulation over pay at the banks - not just the amounts, but even disclosure requirements, dis-bloody-closure!- what an about-face this is. Hat-tip to Political Scrapbook for digging this out. Even at the time I thought this was utter nonsense. Much as I am am sceptical about the motivational effects of bonuses, much as I am aggravated by public sector employees receiving huge rewards, pinning bonuses back to £2,000 was ludicrous. What was the idea, to come out with a line midway between Labour and the SWP? All looks rather cynical in light of this week's developments dunnit.