Boris Johnson has attacked the government’s plans to tax bank bonuses and
warned it risked damaging London’s competitiveness.
In a letter to chancellor Alistair Darling, the London mayor argued that the
move to tax bonuses over £25,000 at 50%, along with the raising of the top rate
of income tax to 50%, was “ill-judged”.
“You have made unilateral changes to taxation the risk damaging London’s
competitiveness and its status, alongside New York, as the world’s leading
financial services centre,” he wrote.
Telegraph reported that he has requested an urgent meeting with Darling
to discuss “the damage done to perceptions of London as a global financial
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The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
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