RBS chairman Sir Philip Hampton says banker pay too high

The chairman of the 82% taxpayer owned Royal Bank of Scotland has said the banks' chief executive Stephen Hester was "entitled" to the near-£1million share bonus, which he later turned down.

Speaking to the BBC's Robert Peston, Sir Philip Hampton said they were "thinking again" about overall bankers' pay and rewards.

However, he denied that the original decision to award Mr Hester the payout was wrong.