U.K. May Introduce New Tax on Bank Bonuses Before 2011, Sunday Times Says

The U.K. government may introduce additional taxes on bank bonuses and disclosure rules ahead of payouts in the New Year, the Sunday Times reported, citing unidentified senior government officials.

The government wants to tackle financial institutions’ bonus culture, including adding a new levy similar to the one- time 50 percent tax introduced by former chancellor of the exchequer Alistair Darling, the newspaper said.

To contact the reporter on this story: Nicholas Larkin in London at nlarkin1@bloomberg.net.

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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