As is common with EU rules, this rule had serious side effects. All that happened is that total pay stayed about the same, just that a greater fraction was salary.

Before, if times were tough, then the banks could significantly cut overall costs by cutting bonuses. With these rules their hands were tied - they still had to pay the higher salaries.

Seems only fair, there's a 37% increase in the number of three-day emergency food parcels distributed by food banks after all.

https://commonslibrary.parliament.uk/research-briefings/cbp-...

The UK is basically destroying itself at multiple levels. It's really sad to see. Would have been nice to have a balanced counter partner in the anglo world to the USA.