To ask Her Majesty's Government further to the Answer by Lord Myners on 10 February (Official Report, House of Lords, cols. 1009–1011), when he expects the required decisions to be made on the issue of bonuses in the banking sector. [HL1502]

UK Financial Investments (UKFI) manages the Government's shareholdings in the recapitalised banks. UKFI has a role in scrutinising banks' compliance with the recapitalisation conditions and also in scrutinising remuneration policies, to protect the interests of the taxpayer as a major shareholder.

On 17 February 2009 an announcement was made in respect of the pay and rewards settlement for the Royal Bank of Scotland. On 9 March 2009 an announcement was made in respect of Lloyds Banking Group.