The high street banks face an inquiry by an influential Commons committee, following cross-party calls on Thursday for retribution against the “irresponsible” bank bosses seeking multi-billion taxpayer capital bailouts.

The Treasury select committee is set to hold an inquiry into the terms of the £400bn($681bn) rescue package, which the MPs concerned said would cover bankers’ remuneration, as well as the risks to the taxpayer. “Bonuses are bound to come up – we’ll inevitably look at them, and we should be doing so,” a Tory MP on the committee told the Financial Times.