Same answer, all the time

Instead of setting complex rules about bonuses, the Treasury should simply grab a share of the 40%-50% of the revenues that most investment banks set aside to distribute to staff, the study recommends.

Professor Karel Williams, the lead author among experts brought together by Manchester University\’s Centre for Research on Socio-Cultural Change, said that little of the cash churned around the City was invested productively: \”There\’s a line between portfolio allocation, which is what the City does, and economic co-ordination, which we need.\”

Don\’t these people ever get bored? \”Higher taxes\” is not the answer to each and every question.

4 comments on “Same answer, all the time

  1. The Treasury already get 40-50% of City bonuses. It’s called income tax and National Insurance.

  2. Infoholic,

    53% I think, rising to 63% from April I think.

    (40% PAYE, rising to 50% from April, 1% Employee NI + 12% Employer NI).

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