A new \”super-tax\” on bank bonuses will be introduced immediately, the chancellor announced today, in an attempt to stop banks using profits to pay large bonuses to bankers.
Alistair Darling attempted to appease critics who feared the tax on bonuses would prompt defections from the City by insisting the 50% tax rate on bonuses of more than £25,000 would be paid by the banks rather than employees.
That\’s fascinating. Apparently out Chancellor believes that payroll taxes are paid by employers, not taken out of the hides of the workers.
No wonder the economy\’s fucked with ignorance like that on display.
The charge will cover bonuses awarded between 9 December 2009 and 5 April next year.
Pay \’em on April 6 th then……
Even more fun is the point that this won\’t apply to \”guaranteed bonuses\” for they of course were \”awarded\” when the contract was originally signed.