The boss of the UK's financial services watchdog says a new tax on banks could help prevent excessive bonus payments in the industry.
Lord Turner, chairman of the FSA, told Prospect magazine much of the activities of the City of London were "socially useless". The FSA said Lord Turner's comments came in a roundtable discussion, and were "not setting out any new policy". A Government spokesman said that tax policy was a matter for the chancellor. Full story...
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