Osborne says he understands people's anger over baker's bonuses. "It would have been better if, when we were bailing the banks out, we had secured something from the banks in return. Unfortunately I was not chancellor at the time," he said. Fair enough, but putting a tax on all banks isn't the same as running the banks that are actually owned by the tax payers and controlling bonuses that way.
"Oh but we need to pay bonuses to attract the staff". Not so, RBS and Lloyds always were staffed by bozos with nowhere else to go, so it doesn't matter what they get paid.
But again we have the BBC operating in full anti-banker, anti Tory mode: "Banks will begin to announce the value of their bonuses pots next week, with total payouts expected to top £6bn - almost eight times the additional tax being raised."
Yeah, right eight times the additional amount of tax compared to what was paid last year, but what kind of statistic is that.thebank levy will raise £2.5 bn even after the reduction in corporation tax. Add to that the 50% tax on bonuses and that makes £6.5 bn to the government, £4bn, and even then the bankers get most of thates in bank shares while the government gets paid in hard cash. There really is no pleasing the BBC.