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Those dreadful bankers...

Sucking the life out of the economy, are they?

Well, "Large banks accounted for about 30 per cent of the UK’s corporation tax receipts last year, according to a study by PwC". FT 14/8/8

I make CT receipts £51.3 bn, and 30% of that is £15.4 bn. Here is a list of 2008 spending, take your pick. You could have half the defence budget, or tertiary and secondary education spending at central government level or a quarter of old age pension spending.

And that's before income tax, business rates etc etc.

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Blogger Blue Eyes said... 11:45 am

And the 40-50% of those huge bonuses clawed back.......  



Blogger Croydonian said... 1:50 pm

Exactly...  



Blogger Blue Eyes said... 2:10 pm

Exactly exactly, because you even put it in the original post. I need to learn to read to the end before commenting......!  



Blogger CityUnslicker said... 3:20 pm

rather bad news for the public finances now that this contribution will be down by 50% or so...  



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