Taxman set to claim bulk of City's £6.8bn bonuses

THE City's bonus pot is forecast to swell to £6.8 billion this year, but researchers suggest the taxman will scoop up more than workers.

By The Newsroom

Published 23rd Apr 2010, 11:10 BST

Updated 23rd Apr 2010, 11:50 BST

According to predictions from the centre for economics and business research (CEBR), the bonus pool will increase after a bumper year for many.

The figure is set to provoke anger, but the CEBR said the new 50 per cent tax rate on income over 150,000 means the largest slice of the payouts will be taken by the State.