Downing Street Says » Bankers’ Bonuses

» Tuesday, January 11, 2011

Bankers’ Bonuses

Asked why the Government had thrown the towel in over bankers’ bonuses, the PMS said that that was not the case. We set out yesterday that discussions were ongoing between the Treasury and the banks and we would not pre-empt the outcome of those discussions.

Asked what the Prime Minister’s position was on the bonus tax, the PMS said that the bonus tax was introduced as a one-off last year by the previous administration and was not a long-term tax as it could then be avoided. This Government had introduced a permanent bank levy.

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