UK Treasury to receive £2.5bn Goldman Sachs tax boost - papers

It is expected to pay significantly in excess of the £1.1bn it paid in corporation tax last year, and in excess of £1bn in employees' income tax should average annual staff earnings - pay and bonuses - hit the estimated £450,000 mark this year. The calculations - while not justifying the bank's lucrative compensation policies - highlight the importance of the bank's profitability to the British Exchequer, at a time of continuing losses and a growing budget deficit according to The Telegraph. Goldman Sachs declined to comment on the estimates, but a spokesman said: "We have historicall...