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16 Dec 2011
FINANCIAL SERVICES contributed more than 12% of the government's total tax take in 2010/11, the City of London Corporation has claimed.
An annual study published today said that banks and financial institutions paid £63bn up from £53bn in 2009/10. The report put this down to the one-off tax on bankers' bonus and the 50% top rate of tax.
The report concluded that it would be tough for Whitehall to rebalance the economy away from the sector.
"We've always been supportive of rebalancing," Stuart Fraser, policy chairman at the City of London Corporation told the Financial Times. "But we believe the way to get there is not by shrinking the financial services industry, but by building up other industries."
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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