Not providing institutions with the ability to pay variable allowances is ridiculous. Unlike fixed pay allowances can be easily taen away from staff. Where performance is lacking or behaviours of staff are not appropriate the removal of an allowance from that person's following year remuneration is a very strong measure. Much more so than failure to pay a bonus. This is because you are taking away something the person is currently receiving rather than not paying something they might othewise have recieved. Very different.
Therefore, allowances should be available to banks remenuration policies up to 100% of fixed salary. It is a good risk management policy.
No, you are actiively taking steps to destroy London's competitive advantage in Banking. You are actively pushing people into other jurisdictions. This year three of my team have moved to Hong Kong to perform their roles in order to avoid the ridiculous restrictions you socialist morons have imposed. Their roles are not replaced here and the sizeable tax revenues they provided to the UK Treasury have been lost for good.
Graham Davidson