UK bankers criticise new bonus tax

City traders in the United Kingdom express outrage over new bonus tax.

    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


    YOU MIGHT ALSO LIKE

    Project Force: Could the world survive a nuclear winter?

    Project Force: Could the world survive a nuclear winter?

    The consequences of a nuclear war would extend far beyond the blast itself, killing millions of people across the globe.

    Are K-pop and BTS fans a new force for social justice?

    Are K-pop and BTS fans a new force for social justice?

    K-pop fans are using the same social media tactics they employ to support music stars for social justice activism.

    Palestine and Israel: Mapping an annexation

    Palestine and Israel: Mapping an annexation

    What will the maps of Palestine and Israel look like if Israel illegally annexes the Jordan Valley on July 1?