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Belgium Could Raise Bank Tax If Necessary, Reynders Tells L’Echo

March 24 (Bloomberg) -- Belgian Finance Minister Didier Reynders said fiscal measures could be used to rein in banks should there be a return to former practices of paying excessive bonuses, L’Echo reported, citing an interview.

“The easiest would be to increase the rate of tax levied on bank profits rather than more tax on bonuses, which are already at a level of 70 percent,” Reynders said, according to the newspaper. “If banks have good results today, it is also because taxpayers helped them to survive.”

To contact the reporter on this story: Andrew Clapham in Brussels at aclapham@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

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