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09 Dec 2009
Alistair Darling has , but has hit the banking sector with a one-off levy on any bonus worth more than £25,000 to put £500m back into the UK's coffers.
He stopped short of hitting the banking sector with a windfall tax, but issued an ultimatum for them to use profits to build up their capital cushions or face the heavy tax on bonuses after benefiting from the government's help.
The banks, not the employees will be responsible for paying.
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PBR 09: Bankers hit with one-off 50% bonus levy
The Bankers will easily get round this levy by paying their bonuses either before or after the qualifying period, or by increasing salaries instead! Are the Government really so stupid as to believe this levy will work, or is it just a ploy to hoodwink the voters into thinking the Government are actually taking action against this unpopular greediness?
Posted by: Roy Huxley, 09 Dec 2009 | 00:00