Cable: “I don't understand why people need a million quid a year”

Business Secretary Vince Cable has asked “sympathetic bankers” to explain why they want to earn £1m a year, but he still can’t get his noggin around the idea.

In an interview the Observer magazine yesterday, he said:”I don’t understand why people need a million quid a year.

“I’ve asked one or two of the more sympathetic bankers to explain it to me.

“The response has been: ‘It’s not that I need the money, it is because others get it so I should, too.’

“That is a ludicrous mindset. What on earth do these people think they are doing?”

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