Performance-related pay 'should not just apply to London banking jobs'

A leading Conservative Party thinker has said that performance-related pay should apply not only to those in London banking jobs but also to people working in the public sector.

Writing in the Guardian, Harry Phibbs, a Conservative councillor and a blogger for the party's home and social affairs unit, said that bonuses should not be banned for those in London banking jobs if they work for companies that have not been supported by taxpayer investment.

Mr Phibbs added that performance-related pay should not just be encouraged for bankers but also for workers in the public sector.

"The rule should apply to the public sector as well - from top to bottom - whether for a caretaker cleaning a tower block or a permanent secretary in Whitehall," he said.

He said that he believed it would be fairer than simply imposing a crude pay freeze across the public sector.

Earlier this year, David Cameron said that public sector spending had to be made more efficient.

Updated: 29 October 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.