the visible hand

it is the theory which decides what can be observed – einstein

France: 50% Tax on Bank Bonuses

Posted by ecoshift on December 16, 2009

I’m waiting to hear: US: 50% tax on bank bonuses…
Anyone want to give me odds?

France Plans 50% Tax on Bank Bonuses –

PARIS — Taking its cue from Britain, the French government plans to introduce a one-off 50% tax on bonuses awarded to bank employees next year, in a move aimed at soothing public outcry over excessive remuneration in the financial industry.

If approved by Parliament, the levy will apply to bonuses above €27,500 ($39,974), French Finance Minister Christine Lagarde said Wednesday. Expected proceeds will help fund the extension of state guarantees on bank deposits.

An aide to Ms. Lagarde said the levy would affect between 2,000 and 3,000 bankers working in France, but said it was too early to indicate how much the government could raise through the one-off tax.


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