Priorities

Kick the poors, defend the rich.

George Osborne is to take legal action against Brussels over the European Union's proposed move to cap the bonuses of thousands of British-based bankers.

Sky News has learnt that Treasury officials have been considering the move for several months.

A decision to formally challenge Brussels in the courts over measures to restrict bank bonuses echoes a similar legal action launched by the Treasury in April over the EU's proposed financial transactions tax (FTT).