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Old 12-09-2009, 06:54 AM
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Default Bankers bonuses to be hit by over 50% tax

A one-off tax on bankers' bonuses is expected to form the centrepiece of Alistair Darling's pre-Budget report - the last before the general election.
The chancellor is under pressure to explain how he will meet his pledge to halve the deficit over four years - by cutting spending or raising taxes.
The Conservatives say borrowing levels, which could exceed £175bn this year, need to be reduced much more quickly.
Support for youth unemployment and environmental measures are also likely.
The chancellor's statement, which he will deliver on Wednesday, will set the tone for the economic debate in the run-up to the election - which must be held by next June.
The Lib Dems argue neither of the main parties are being honest about the spending challenges facing the next government and the extent of cuts that will be needed.



source/full story: bbc
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