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Darling plans tax on bank bonuses [View All]

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CHIMO Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-05-09 08:29 PM
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Darling plans tax on bank bonuses
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Alistair Darling is drawing up plans to face down the country's top bankers by taking the "nuclear option" of a windfall tax on their bumper bonuses as part of measures aimed at the super-rich.

The dramatic move, which was off the agenda just weeks ago, is under active discussion as the Treasury and No 10 try desperately to control the explosion of public anger over bankers' pay.

Government sources said Darling was keen to explore the option for introducing a windfall tax if practical problems such as defining what constitutes a bonus could be overcome.

The government will also underline its determination to ensure financiers pay their share of the cost of the crisis by fleshing out its plans for an international "Tobin tax," to be levied on City transactions, raising tens of billions of pounds. Brown threw his weight behind the proposal last month, and No 10 has since been encouraged by growing global support, including from American Democratic majority leader Nancy Pelosi, who said last week that the proposal had "a great deal of merit".
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