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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/coalition-faces-bank-bonus-pressure.jpg"><img class="alignnone size-full" title="The Government is braced for pressure over bankers' bonuses as the UK's top financial institutions prepare to pay out millions" src="http://londonglossy.com/wp-content/uploads/2011/01/min-coalition-faces-bank-bonus-pressure.jpg" alt="The Government is braced for pressure over bankers' bonuses as the UK's top financial institutions prepare to pay out millions"/></a></p>
<p>Ministers are braced for more pressure over bankers&#8217; bonuses amid speculation that efforts to limit payouts have failed.</p>
<p>Downing Street stressed it could not &#8220;micromanage&#8221; financial institutions, seemingly indicating that efforts to reduce the looming multi-billion pound bonus round had failed.</p>
<p>Instead, the coalition is believed to be focusing on increasing transparency and securing more lending for small businesses.</p>
<p>The part-nationalised banks &#8211; Royal Bank of Scotland and Lloyds TSB &#8211; will be expected to pay the lowest bonuses following public warnings from David Cameron and Nick Clegg.</p>
<p>RBS chief executive Stephen Hester is reportedly in line for £2 million, but the award will be in stock rather than cash.</p>
<p>Deputy Prime Minister Mr Clegg told BBC Radio 4&#8217;s Today programme: &#8220;These state-owned banks wouldn&#8217;t be in existence if it wasn&#8217;t for the generosity of taxpayers. The directors of those banks have been asked to do a job: to fix those banks and make them healthy again. That job isn&#8217;t complete yet and until it is I think that should be reflected in their remuneration.&#8221;</p>
<p>He added that the &#8220;sky high&#8221; seven-figure bonuses pocketed by some bank bosses &#8220;seem to come from a parallel universe to many people&#8221;.</p>
<p>Meanwhile, Labour leader Ed Miliband called for the Government to extend the tax on bankers&#8217; bonuses which raised £3.5 billion last year.</p>
<p>He said: &#8220;We believe the extension of the bonus tax for another year is not only fairer, but more responsible.&#8221;</p>
<p>The debate over bonus payouts could be inflamed further when controversial Barclays chief executive Bob Diamond gives evidence to MPs. Mr Diamond is said to have been awarded £8 million this year.</p>
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