Banks slam Budget windfall tax on bonuses

According to reports over the weekend, a scheme could be unveiled in Alistair Darling's Pre-Budget Report on Wednesday. However, Angela Knight from the British Bankers' Association (BBA) called such taxes "populist, political and penal". She said windfall taxes on bonuses would send the wrong message to the rest of the world about the UK's position as a banking centre. "We have already seen quite a few companies shift out of the UK," BBA chief executive Angela Knight told the BBC. "It might be popular to put very high taxes on a few [bankers], but we need to know how we woul...