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Bank bonuses to reach £7bn
Almost £7bn is expected to be paid out to bankers in bonuses this year, according to research by the Centre for Economics and Business Research (CEBR).
The level of bank bonuses is less than the £11bn paid out at the peaking of the banking boom in 2007 but will still anger small and medium-sized business owners.
The CEBR said that the government would take a bigger share of the bonus pot than the bank employees due to the new 50% tax rate on income over £150,000 which is implemented this year.
"It seems that the wave of public anger towards bank bonuses may be ebbing a little. A whopping £7bn bonus payout will be easier to stomach if the lion's share goes to the nation," said Benjamin Williams, CEBR economist.
Post Date: October 5th, 2010
The level of bank bonuses is less than the £11bn paid out at the peaking of the banking boom in 2007 but will still anger small and medium-sized business owners.
The CEBR said that the government would take a bigger share of the bonus pot than the bank employees due to the new 50% tax rate on income over £150,000 which is implemented this year.
"It seems that the wave of public anger towards bank bonuses may be ebbing a little. A whopping £7bn bonus payout will be easier to stomach if the lion's share goes to the nation," said Benjamin Williams, CEBR economist.
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Post Date: October 5th, 2010
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