Britain slaps tax on banker bonuses

Britain slaps tax on banker bonuses


The chancellor of the Exchequer, Alistair Darling, announced a one-time tax on bank bonuses, on Wednesday, as part of governments effort to shore up the still-weak British economy.

The tax will be levied on 2009 bonuses of more than £25,000, or $40,800. It will be imposed on the pool of bonuses paid by a bank, rather than individual payments, and it will be paid by the bank not by the recipient of the bonus. It will take effect immediately and will affect banks 2009 profits.