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Banks criticise plans for windfall tax on bonuses

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BBC News - Banks criticise plans for windfall tax on bonuses

 

 

British banking chiefs have reacted angrily to news the Treasury is considering a one-year windfall tax on bonuses paid to some UK-based bankers. A scheme could be unveiled in Alistair Darling's pre-Budget report this week.

BBC business editor Robert Peston said taxing bankers rather than banks would not weaken the lenders and could raise several hundred million pounds.

 

Angela Knight from the British Bankers' Association (BBA) called such taxes "populist, political and penal".

 

She said such windfall taxes on bonuses would send the wrong message to the rest of the world about the UK's position as a banking centre.

 

"We have already seen quite a few companies shift out of the UK," the BBA's chief executive told the BBC.

 

"It might be popular to put very high taxes on a few [bankers], but we need to know how we would look internationally."

 

She added that one million jobs in the UK were supported by the banking industry.

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shut up angela, your constant whining gives me a headache


PGH7447

 

 

Getting There Slowly

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Advice is given freely but is in no way meant to be taken as Gospel:-)

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