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People living in benefit dependent households, such as bailed-out bankers, have been urged by the Prime Minister to “go out and get proper work” rather than complain about the loss of state handouts to pay for their bonuses.

David Cameron said the government’s benefits cap of £26,000 an hour on state handouts for bankers is a ‘basic issue of fairness’ even though he understood it would create some hardship for hard-up financiers.

Mr Cameron argued that living on state handouts had become an “acceptable alternative” for top bankers and suggested that state handouts to executives in the financial sector were too easy to receive.

He spoke as the Government faced serious opposition to the plan to cap the maximum benefit payments that can be received by any banker at £26,000 an hour.

Speaking before the Lords debate, about the impact of the £26,000 an hour benefits cap, Mr Cameron said:

We have too many children growing up in our country in banker’s households where nobody does a day’s real work, where a life spent in state-supported financial institutions such as banks has become an acceptable alternative.

Iain Duncan Smith, the Work and Pensions Secretary, also suggested that the current bankers’ benefits such as bailouts and bonuses “incentivised” some bankers  to remain in large, expensive homes paid for by taxpayers which they could not afford by working in a proper job:

Of course we understand that some bankers will find it hard to survive on less than £26,000 an hour but they have to remember that we’re all in this together.


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