Eight-year record high bonuses welcomed by Welsh Conservatives

An ONS report published today shows that the combined value of all bonuses paid in Great Britain has surpassed the previous highest amount seen in 2008.

Importantly, the figure is also 4.4% higher than in the financial year ending 2015.

Responding to the report, Russell George AM, Welsh Conservative Shadow Secretary for Economy, said:

“It is welcome news indeed that the private sector is still brimming with confidence about the UK economy, paying its employees more bonuses than in 2008.

“We also note that the financial and insurance services industry are still paying bonuses below the average seen in 2008.

“There is still much work to do in raising Wales’ average weekly wage, which last year trailed behind the rest of the UK.

“Following the vote to leave the EU, it is crucial we ensure that businesses have stability and ability to forward plan, so that the UK economy can continue to surge forward while ensuring that employees can benefit from their success.”