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LONDON — Royal Bank of Scotland chief executive Stephen Hester will not accept the 1 million-pound ($1.5 million) bonus that drew criticism from British politicians, the bank said Sunday.
Spokesman David Gaffney said Hester would not receive the bonus of 3.6 million shares he was awarded last week.
The government spent 45 billion pounds bailing out RBS three years ago. It owns an 82 percent stake, and politicians had criticized the reward at a time when Britons face painful spending cuts and tax hikes.
Denver Post wire services
