[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
'Justice for All' demonstrations swell across the US over the deaths of African Americans in police encounters.
Six former Guantanamo detainees are now free in Uruguay with some hailing the decision to grant them asylum.
Disproportionately high number of Aboriginal people in prison highlights inequality and marginalisation, critics say.
Nearly half of Canadians have suffered inappropriate advances on the job - and the political arena is no exception.
Featured
Women's rights activists are demanding change after Hanna Lalango, 16, was gang-raped on a bus and left for dead.
Buried in Sweden's northern forest, Sorsele has welcomed many unaccompanied kids who help stabilise a town exodus.
A look at the changing face of North Korea, three years after the death of 'Dear Leader'.
While some fear a Muslim backlash after café killings, solidarity instead appears to be the order of the day.
Victims spared by the deadly disease are reporting blindness and other unexpected post-Ebola health issues.