10 Dec 2009

Levy to be imposed on UK bank bonuses

6:01 am on 10 December 2009

The British government has announced strict measures to curb the bonuses paid to bankers, including a levy of 50% on all payments over £25,000.

The BBC reports there has been criticism of sizeable bonuses some banks are planning to pay while receiving government aid.

Other steps are being taken to reduce a deficit of £178 billion, including a curb on public sector pay rises.

The measures were announced by Chancellor Alistair Darling as part of a pre-budget report which comes just months ahead of a general election.