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France to bring in bank bonus tax | France to bring in bank bonus tax |
(41 minutes later) | |
French Finance Minister Christine Lagarde says France is to introduce a tax on bankers' bonuses similar to the one introduced in the UK. | |
Any bonus above 27,000 euros ($39,000; £24,000) will be taxed at a rate of 50% on payments given out in 2010. | Any bonus above 27,000 euros ($39,000; £24,000) will be taxed at a rate of 50% on payments given out in 2010. |
Ms Lagarde told reporters that a bill would be brought before the French parliament in January. | Ms Lagarde told reporters that a bill would be brought before the French parliament in January. |
Last week, UK Chancellor Alistair Darling announced a similar measure in his pre-Budget report. | Last week, UK Chancellor Alistair Darling announced a similar measure in his pre-Budget report. |
French officials had said last week that a bonus tax was on the cards, but no details were given. | |
German Chancellor Angela Merkel has said she is sympathetic to the idea but that it might be against German law. | |
Taxes on bonuses are being brought in to quell public anger about the high level of bankers' pay when many of the banks have received government support. |