Vince Cable admits new bank fee is only a possibility (ft.com - Westminster blog)

Yesterday, we reported that David Cameron is Nick Clegg warning of new action against banks which show no bonus retained.

David Cameron has warned banks Friday they faced taxes higher if they continue to pay premiums "unjustified", adding to an increase in pressure policy and regulatory city before bonus season beginning next think Prime Minister of industry, speaking after an EU Summit Brussels European, said that the public, these payments "galling", adding: "" any decision banks are as this makes it more difficult to maintain a tax system which they could promote. ""

Says Vince Cable Andrew Marr today show this morning has continued in the same vein. But if you listened carefully to the words indicated a threat rather than an imminent punishment.

"If they behave, they do take into account their responsibilities more broad Government has an opportunity to form any taxation," said Cable.

Understand that the Government's position would be much easier - like I said Friday - if they could indicate that they want to banks, which are already lower than last year's bonus recovery position. A little less than last year? Half that figure? 10 Per cent? For the moment it is not clear.

In opposition, what must do us suggestion of Alan Johnson Bank one-time year last sampling could be made permanent? Is it credible? This is official policy work?

Johnson told Sky:

Last year we introduced a tax on the premiums of bankers; It has drawn approximately £ 3. 5bn. Person has fallen, nobody is made abroad, all sorts of things that we heard that occur. So you know there is more money to banks. Especially when consider you a fair share not as punishment; as a fair to bring the budget deficit share '. "

The advocate is that banks only remained on the Mainland was because they knew it is off. for the regularization of the royalty may change their calculations.

In the meantime, Cable is keen for banks to implement the new rules established disclosure on the book by labour - law forcing them to the list of staff how (although unnamed) received £ 1 m-plus bonuses.

In this regard, it disagrees with George Osborne, the Chancellor, who last month watered rules - as revealed in the FT George Parker. Which makes it a genuine spat at the top of the Government.

Tags: Suppression of bonus, bonus season, premiums, Coalition, David Cameron, George Osborne, possibility, Vince Cable

19 December 2010 12 h 52, curators, political economy of the Treasury Board, UK | Comment