City bonuses boost tax revenues

Link: Phone group takes bonus scheme to Lords

In a report on the BBC, Brown is reported as telling a committee of MPs that ‘tax revenues have started to rise because of bonuses in the City’.

Brown also insisted that the government is on target to meet its fiscal rules, which state that he may only borrow to invest over the current economic cycle and that public debt must be kept below 40% of GDP.

Corporate tax are also increasing, Brown claimed.

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