A report conducted by the Financial Times suggests that the Chancellor Alistair Darling could be well off the mark when predicting that the UK’s one off tax on bank bonuses would bring £550million in to the Treasury during this financial year.
Instead the Financial Times report says that the 50% tax levied on bonuses over £25,000 is more likely to bring in a more welcoming £2.5billion to the government, after a survey conducted through the UK banks.
While the Treasury could not confirm the Financial Times figures the much needed extra cash would help to payoff some of the Governments record budget deficit and help the UK on the road to financial recovery.
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