The shadow chancellor said yesterday that she had "no intention" of bringing back the cap, introduced in the wake of the 2008 financial crisis to limit annual payouts to twice a banker's salary, saying she wanted to be the "champion" of a thriving financial services industry.
But her shift in position has frustrated some of her colleagues. One shadow cabinet minister said: "We have spent the last year and a bit saying what a terrible decision it was for the Tories to scrap the cap in the middle of a cost of living crisis. What has changed?"
Another source said: "I'm just not sure what the point of this is. It will be really unpopular with exactly the sort of voters we need to win over, including in the red wall."
A third added: "We've given quite a bit of reassurance already to businesses. I don't really understand the nervousness around this one."
In 2022, Kwasi Kwarteng, then chancellor, announced that he would be removing the rule as part of his now infamous mini-budget amid Liz Truss's short tenure as prime minister. It was one of the few policies that was retained under Rishi Sunak's leadership, with the new rules coming into force in October last year.
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Denne historien er fra February 01, 2024-utgaven av The Guardian.
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Parry: Premier League would be 'sterile' without EFL
Rick Parry has accused the Premier League of undervaluing the football pyramid, arguing that without the \"variety and competition\" that come from relegation and promotion the game would become \"sterile\".
Official review: Coote faces FA investigation as Webb breaks silence on video
The Football Association has launched its own investigation into the behaviour of the referee David Coote after remarks he made about Jürgen Klopp in a video that surfaced online this week.
Match-by-match: Coote's Liverpool games as an official
Referee who has been caught on video in a foul-mouthed tirade against Jürgen Klopp officiated 21 Liverpool games. Andy Hunter takes a look at the decisions in each one
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Is it really a surprise that an official or someone similar should end up glassy-eyed and spitting toxins on a sofa?
Hall's audition adds intrigue to England's Nations League finale
In-form Newcastle defender can show Thomas Tuchel he can be the solution to perennial problem on the left
'It's about robust planning, proper financial control'
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'People are going to see women's boxing at its very best'
The super-lightweight world champion Katie Taylor says her rematch against Amanda Serrano in Texas, as the main support act to Tyson v Paul, will be something special
Blindkilde Brown and Fujino help City avoid slip up
Manchester City maintained their 100% start in the Women's Champions League group stage as second-half goals from youngsters Laura Blindkilde Brown and Aoba Fujino were enough to beat a determined Hammarby side.
Players must cope with extra scrutiny, says Lewis
The England coach, Jon Lewis, said his players experienced a \"sharp learning curve\" about perception management in the fallout from their disastrous group-stage exit in last month's T20 World Cup.
No input from Jones in England's plan to upset Springboks
England will not be benefiting from the insider knowledge of their former Springbok assistant coach Felix Jones this weekend after it emerged that neither their players nor key staff members have been in contact with the Irishman, still supposedly employed remotely by the Rugby Football Union (RFU).
