Myners slams bank tax plans

The tax will be based on banks' balance sheets rather than their earnings, the Sunday Times reports. "I'm going to ask the banks to pay a bank levy so there will be a contribution from them," he told the BBC. "What I'm determined to do is to make sure that the measures are tough but they're also fair." Osborne will also proceed with a plan to rise CGT to around 40% for non-business assets but will soften his corporation tax proposals when he announces his Budget on Tuesday. Read more...