Bonuses 'falling to 1998 level'

Bank bonuses are set to fall to levels last seen 15 years ago as City rewards start "coming back into the real world", it has been claimed.

The amount paid out in bonuses fell to £4.4 billion in 2011/12, less than half the peak of £11.6 billion before the financial crisis and the lowest for eight years, according to economics consultancy Cebr.