Treasury set for bank tax windfall
The Treasury's bonus tax on bankers could raise as much as £1.5bn after it was reported that Barclays had increased annual pay and bonuses for 23,000 investment bankers to about £4.5bn last year.
With an estimated 200m coming from Barclays alone, the Treasury’s income could be much larger than the 550m the Government originally expected.
However, Barclays is this week expected to confirm that the bonuses are lower than normal.