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Posts with tag tax bonuses

If I ruled the world... I wouldn't stop at a super tax on bonuses in the pre-Budget report

Filed under: Taxes

Take a leaf out of Alistair Darling's book if you ever want to create an instant army of enemies.

Having gone to war against RBS last week over them using taxpayers' money to pay each other bonuses totalling £1.5 billion he clearly wasn't satisfied that their promise of a rethink was genuine. So now, in today's pre-Budget report, he's expected to announce a one-off 'super tax' on bankers' bonuses at a rate higher than the 50% that the big earners already pay.

Brilliant stuff, as long as you're not a banker!

But why stop with them? Why not target other groups that we, the court of public opinion, feel should suffer along with us in the financial doldrums? Not only would we be raising super revenue with our super tax, we would also feel super satisfaction in seeing our tormentors squirm.

The week of a thousand government spending cuts

Filed under: Financial Crisis

The Pre-Budget report is out on Wednesday, which makes this the week when politicians will be banging on about spending cuts and trying desperately to find a way to make ends meet.

They have a bit of a challenge on their hands, because they'd like to do this without losing your vote when it comes to the General Election. So they're trying to find clever, creative and popular ways to spend less money.

So far some of the ideas seem to fit the bill, so what passes as a popular spending cut, and will it do the job?