UK bankers criticise new bonus tax - 09 Dec 09
- 12 years ago
Alistair Darling, Britain's finance minister, has announced a new tax on bankers' bonuses, imposing a 50 per cent levy on payments of more than $40,000.
The new tax will be paid by the banks, not by individuals, in a move to discourage excessive payouts. Some experts say the government's plan for a one-off tax on bank bonuses may make London a significantly less attractive plan for foreign banks to do business.
Al Jazeera's Tim Friend reports from England's capital where many city traders are furious because of the new tax.
The new tax will be paid by the banks, not by individuals, in a move to discourage excessive payouts. Some experts say the government's plan for a one-off tax on bank bonuses may make London a significantly less attractive plan for foreign banks to do business.
Al Jazeera's Tim Friend reports from England's capital where many city traders are furious because of the new tax.