Bonuses

Have you heard about the new banker's bonus tax? Its a tax on bonuses over £25,000! Darling is bringing it in, to cut the amount of bonuses banks are going to pay their staff, and it was estimated that it was going to bring in £500 million. Strangely though, the banks have decided to just make its bonuses twice as big, to compensate their employees for the tax.. this means that the tax will instead raise £2-4 billions.

Banks have no idea about market forces.. sometimes it makes me wish that I worked for one! perhaps in a cushy non-executive directorship role. Barclays Bank, HSBC.. you know my number, give me a bell.