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Darling Unveils One-Time Tax on Large Bank Bonuses
9 hours ago ago from Wall Street Journal
LONDON -- U.K. Treasury chief Alistair Darling said Wednesday the government will impose a one-time 50% charge on bankers' bonuses worth more than 25,000 ($40,725), responding to increasingly sour public sentiment toward the banking sector. Laying out plans for borrowing and spending in his prebudget report, Mr. Darling said the bonus measure, which will be borne by the employer, would apply to all U.K. banks and building societies, and ...
Related contentUK announces one-time tax on bankers' bonuses
8 hours ago ago from U.S. News
UK announces one-time tax on bankers' bonuses LONDON (AP) -- The British government announced a one-time tax on bankers' bonuses as it laid out its plans for the country's ravaged domestic economy ahead of a looming general election. With Britain the only major economy still in recession and Prime Minister Gordon Brown's Labour party trailing the opposition Conservative Party in opinion polls for an election that must be called within six ...
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