TaxPersonal TaxLabour calls for new bankers’ bonuses levy

Labour calls for new bankers' bonuses levy

The opposition has said that a new tax on bankers' bonuses would raise £3.5bn and would promote growth

BANKERS’ BONUSES should be subject to another tax, Labour leader Ed

Miliband has said ahead of the Budget next week. Miliband and shadow chancellor Ed Balls said that the bankers’ bonuses had raised £3.5bn and they claimed a repeat would promote growth.

They also called for a cut in VAT on petrol from 20% to 17.5% because of the high rise in fuel prices. This would be funded by the bank levy, they said.

The Conservatives said that the cost of Labour’s spending commitments over the last four weeks have totaled £12bn.

 

 (Picture © Department of Energy ad Climate Change via Flick)


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