[QODLink]
Europe
UK bankers criticise new bonus tax
City traders in the United Kingdom express outrage over new bonus tax.
Last Modified: 09 Dec 2009 20:31 GMT

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.

Source:
Al Jazeera
Topics in this article
Country
Featured on Al Jazeera
More than one-quarter of Gaza's population has been displaced, causing a humanitarian crisis.
Ministers and MPs caught on camera sleeping through important speeches have sparked criticism that they are not working.
Muslim charities claim discrimination after major UK banks began closing their accounts.
Italy struggles to deal with growing flood of migrants willing to risk their lives to reach the nearest European shores.
Featured
Students kept from using screen-based technology for five days showed improvement in recognizing emotion, US study says.
Frustration grows in Kiev as pledges to end corruption and abuse of power stagnate after Maidan Square protest.
Thousands of Houthi supporters have called for the fall of Yemen's government. But what do the Houthis really want?
New ration reductions and movement restrictions have refugees from Myanmar anxious about their future in Thailand.
US lawyers say poor translations of election materials disenfranchise Native voters.
join our mailing list