Pre-Budget Report

As politicians are to blame, like bankers, perhaps the top 25 per cent. of our salaries should also be taxed at 90 per cent. However, the Chancellor mentioned in his speech a £550 million yield from the special tax levy, which is the equivalent of £1.1 billion in paid bonuses. Is he implying that the measure is a ban on bonuses? Otherwise, bankers will either redefine themselves as working for hedge funds or non-bank banks, or domicile themselves outside the UK to receive such bonuses.