A LABOUR shadow minister "squirmed" when questioned about bankers’ bonuses and the two-child benefit cap on Sky News.

It comes after Labour's shadow chancellor Rachel Reeves announced that the party would keep Liz Truss's policy of unlimited bonuses for bankers if the party wins the General Election.

Sky News presenter Kay Burley asked Jonathan Reynolds – Labour’s shadow business secretary – about the decision on Thursday morning.

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Burley asked: “Just to clarify, Labour is happy to cap child benefits but not bankers bonuses?”

Reynolds then squirmed, before responding: “Well, I would not make that comparison.”

“I just did,” Burley nudged.

The shadow minister then added: “The point around this is that this is not about limiting. The bankers’ bonuses policy was never about how much people are paying. It was about the structure. Basically, what was previously bonus went into basic pay.

“I just want to be clear that this is not about people saying bankers should earn more. That’s not our view.”

SNP MP John Nicolson commented: "Squirm. Squirm. Squirm. 

"When Sir Keir Starmer's top team is this unprincipled in opposition (and 20 points ahead)  just imagine what they'll be like in government ..."

In a media round, Reynolds continued to defend the decision.

He told BBC Radio 4’s Today programme: “We didn’t say at the time we would ever reinstate it – that’s because that policy was of its time, the financial crisis, the reaction to that.”

He added to Sky: “It was of its time post-financial crisis, the reforms that were put in place around the stability of banks and how other rules relating to bonuses, in terms of how misconduct can mean bonuses are clawed back, that’s more important.

“Really, all this has done is hasn’t really delivered what was originally intended, it’s made it slightly hard to transfer staff between this country and other countries but, as a policy to deliver what the British economy needs, it’s not a priority.”

The news has caused a headache for Anas Sarwar, the Scottish Labour leader, who previously labelled removing the cap on bankers' bonuses "economically illiterate [and] morally bankrupt".