Proof we’re not alone on the fiscal crisis front: The UK Pre-Budget report. The UK government plans to reduce its deficit from 12.6 percent this year to 12 percent next year and then gradually to 4.4 percent in 2014-15. One highlight of the statement: An immediate 50% supertax on bankers’ bonuses paid between now and April. Bankers, apparently, are furious and were seen crying into their Dom Perignon all over the City of London.
UK Pre-Budget Report
- Post author By Karl Whelan
- Post date December 9, 2009
- Categories In Banking Crisis, World Economy
- Tags Bank Bonuses, UK Budget
- 21 Comments on UK Pre-Budget Report