Darling: reveal pay under 1m

BANKS may be forced to reveal the number of staff earning below &pound;1m, chancellor Alistair Darling announced yesterday.<br /><br />Taking a tougher line than Sir David Walker, who recommended disclosure for pay above &pound;1m in his government-commissioned report, Darling suggested public anger over bankers&rsquo; pay pointed to the need for more transparency.<br /><br />The Walker review said from 2010 banks should reveal the number of employees on their books earning salaries in bands of &pound;1m to &pound;2.5m, &pound;2.5m to &pound;5m and more than &pound;5m.<br /><br />Darling told the House of Commons: &ldquo;We can go further than Walker suggested and we want to consult on narrower bands and on people earning below &pound;1m. Most people are convinced it&rsquo;s important that we do have far more disclosure so people can see precisely what the remuneration practices are.&rdquo;<br /><br />The Tories said they would support the plans,&nbsp; which are contained in the government&rsquo;s Financial Services Bill.<br /><br />Shadow chancellor George Osborne said: &ldquo;There are some perfectly reasonable proposals in this bill. The Prime Minister promised that the days of the big bonus are over &ndash; we will have to wait to see if that is true.&rdquo;<br />