Chris Leslie MP, Labour’s Shadow Treasury Minister, commenting on reports of bonus payments expected at UK banks, said:
“While our economy is shrinking and the Government cuts tax credits for working families it looks set to be another bumper bonus round for bankers. There should be fair rewards for performance, but these bonuses follow the Libor fixing and mis-selling scandals that have been exposed in recent months.
“There is now a clear case to repeat Labour’s tax on bank bonuses this year to fund a guaranteed job for young people out of work. And unless George Osborne sees sense, his tax cut for millionaires in April will mean thousands of bankers have an even more lucrative bonus round next year.”