Wednesday, December 09, 2009

Two fast points on the 50% tax on British Bank bonuses

Two fast points on the 50% tax on British Bank bonuses:

City tells Darling: your super-tax is pushing us out of Britain | Business | The Guardian:
"City minister, Lord Myners, spent this afternoon calling the heads of all major banks in the City to try to reassure them about the tax, which is being introduced immediately, bankers reckoned there would be a race to circumvent the rules by raising basic salaries, deferring bonus payments or shifting bankers' contracts overseas."
and my favorite line:
"One lawyer said the one-off 50% tax on bonuses of more than £25,000 that will be paid by banks, rather than bankers, could become a job creation plan for Frankfurt, Paris and Zurich"

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