Osborne’s legal battle cost £43,000

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Chancellor George Osborne has been accused by Labour of wasting tens of thousands of pounds in taxpayers’ money in his unsuccessful legal battle to block a European Union cap on bankers’ bonuses.

Shadow treasury minister Cathy Jamieson said figures obtained through the Freedom of Information Act show that the Treasury spent £43,000 in external legal fees in the course of its action in the European Court of Justice.