Bankers avoided bonus tax, admits Darling
The ex chancellor has acknowledged that the tax failed to change the industry’s behaviour concerning pay and that employees found “imaginative” ways to avoid it.
Speaking at a financial services conference this week, Darling said the new government would be unlikely to reinstate the 50% tax on bonuses over £25,000 since it was massively unpopular and failed to change behaviour in the sector.
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Bonus for just doing their jobs
"a million pound bonus if it is a reward for real sustainable and profitable business for the bank"
Yes, but they are just doing their job, with no corresponding risk if they fail. And surely everyone is part of the team ... down to the office cleaner.