From The BBC:
Lloyds Banking Group has defended plans to reward retail and commercial staff with bonuses, worth a reported £120m.
Its subsidiary HBOS – bought with government backing last year – is to record a loss of nearly £11bn, raising concerns it may need more state help.
But Lloyds, already 43% taxpayer-owned, said its employees deserved “financial recognition” for hitting targets.
The government and the Tories have said executives should not receive bonuses but staff on lower salaries should.
The banks said that, in most cases, staff payment would amount to £1,000 or less for employees earning about £17,000 per year.
The report comes amid speculation that the government – which has already poured £17bn into the group – may be forced to take a majority stake in Lloyds, or even nationalise it.
Employment Minister Tony McNulty said cashiers and others should get bonuses “if they do the work”.
“I would draw the line between senior managers, board members, executives, those responsible…