Page last updated at 13:28 GMT, Monday, 7 December 2009

Angela Knight on bank windfall tax

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British banking chiefs have reacted angrily to news the Treasury is considering a one-year windfall tax on bonuses paid to some UK-based bankers.

Angela Knight from the British Bankers' Association (BBA) called such taxes "populist, political and penal".

She said such windfall taxes on bonuses would send the wrong message to the rest of the world about the UK's position as a banking centre.

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