Prescott to present petition to drop bank bonuses

Former British deputy prime minister John Prescott will today present a petition with 13,000 signatures demanding the part state-owned Royal Bank of Scotland drops plans to pay up to £1bn (€1.116bn) in staff bonuses.

Mr Prescott, who gathered support through an online campaign, will present his petition to the Commons Treasury Committee ahead of their hearing with RBS chief executive Stephen Hester and other leading bankers.

“No doubt he will probably say sorry like his former colleagues did,” Mr Prescott said. “Sorry is a start – but not the end of the matter.”