Please don’t tell me taxes on banks don’t work

Posted on

FT.com / UK / Economy & Trade - Supertax pulls in £2.5bn for UK Treasury.

The FT notes:

The supertax on bank bonuses will reap more than £2.5bn for the Treasury, giving the UK government an unexpectedly large windfall to spend ahead of the general election, a Financial Times survey of 16 global banks has found.

So please don't tell me special taxes on banks don't work.

They unambiguously do.