Bank bonuses of more than £7 billion will be paid out to city workers this year, a figure nearly equal to pre-recession levels.
The whopping sum won’t do much to warm the hearts of banker-hating members of the public, who lay the blame for the recession firmly at the door of the City. However, slightly more gratifying is the fact that much of the cash will be snaffled by the taxman thanks to the new 50% tax rate on income over £150,000.
The government will gain £4.1 billion, still leaving a tidy £3.8 billion for bankers to pocket.
Lend us a tenner someone!