Minister's views 'not Treasury's'

The Treasury says Lord Myners was not speaking on the Chancellor's behalf

A government minister's suggestion that some bank executives have been "grossly over-rewarded" is not a view shared by the chancellor, the Treasury has said.

In an interview with the Times, City minister Lord Myners blamed banks for their part in causing the recession.

He said executives had "no sense of the broader society around them" and the "golden days" of big bonuses were over.

A spokesman said these were Lord Myners' private views, and were not the words of the chancellor or Treasury.

BBC political correspondent Iain Watson said the Treasury was seeking to distance itself from the tone of the comments, without in any way disputing them.

I have met more masters of the universe than I would like to, people who were grossly over-rewarded Lord Myners, Financial Services Secretary

The Treasury told the BBC: "These are Lord Myners' comments in the context of an interview - these are not the words of the chancellor or the Treasury. The chancellor has made clear his own view on the banks."

In the interview, Lord Myners, Financial Services Secretary, also revealed the bank system came close to collapse last October, ahead of the government's