Introduced in 2014 when the UK was part of the EU, the cap was designed to curb excessive risk taking in the financial services industry in the wake of the 2008 financial crash.
And ..
But finance bosses have long complained about the rules, saying they lead to higher base pay that pushes up banks' fixed costs.
Those costs cannot be adjusted in line with the firm's financial performance, they add, making it to cut costs during a downturn.
Its a win-win. The bankers get to carry on with their wealth creating and we are saved from the prospect of financial upheaval...
..as long as a totally unpredictable credit event doesn't break the banks and force them to reluctantly clean out the public again, this time via currency collapse..