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Oakeshott welcomes bonus refusal

January 29, 2012 11:38 PM

Former Liberal Democrat Treasury spokesman Lord Oakeshott has welcomed the decision by Stephen Hester, chief Executive of RBS, to reject his bonus of nearly £1m pounds in shares..

Lord Oakeshott"I'm glad that eventually Stephen Hester has seen sense and seen the outrage of most people in this country and Lib Dems who have been complaining bitterly about this for weeks," he said.

"I'm very sorry that David Cameron and George Osborne didn't see that, and have been defending the indefensible right up to today."

Mr Hester was appointed chief executive at the end of 2008 to replace Sir Fred Goodwin, after the bank had to be bailed out by the government, which now owns 82% of it.

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