'Lingering fear' in City over coalition’s bank reforms

City recruiters are concerned by the government’s coming legislation on bonuses, taxes and bank restructuring.The Conservative-Liberal Democrat coalition’s document included an intention to levy an additional banking tax and clamp down on “unacceptable bonuses”, while the Queen’s Speech confirmed the creation of a year-long commission into breaking up the banks. The appointment of Lib Dem Vince Cable as business secretary has also raised some eyebrows in the City.