Tuesday, 25 March 2008

Bankers & Taxes

Where do those who are commenting on the current financial crisis get the idea that any control over 'City' bonuses will cost us tax revenue? The Financial Times carried a story about a banker who skilfully & legally managed to put most of his £500k bonus into his pension fund & got an £82k TAX REBATE as a consequence. It is those of us for whom that bonus = 20yrs salary who pay taxes.

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