Financial Times FT.com

Northern Rock nationalisation

Brown attacked over Northern Rock bonuses

By Jean Eaglesham and Jane Croft

Published: January 21 2009 20:28 | Last updated: January 21 2009 20:28

Gordon Brown, prime minister, has come under fire for his “indefensible” decision to sanction Friday’s payment of bonuses to staff at Northern Rock, the nationalised bank.

Employees will get a bonus worth 10 per cent of their salary under a scheme designed to reward fast progress in paying back the taxpayer loan, which was made when the bank was nationalised last February to keep it afloat.

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