TIMES ONLINE: France is preparing to follow Britain's lead with a one-off 50 per cent tax on bankers' bonuses, according to a French Government source.
President Sarkozy is said to have agreed to include a levy on pay-outs of more than €27,000 in the French budget or in a forthcoming law on regulation of the financial services industry.
The tax will be paid by banks, according to the source.
A spokesman for Mr Sarkozy confirmed that he was planning a special tax on bank bonuses but added that the details had yet to be finalised, suggesting that the French head of state might yet row back from the 50 per cent rate.
The move comes after Britain announced a one-off tax on bonuses over £25,000. It follows a call a by Gordon Brown and Mr Sarkozy for a global levy on bank pay-outs in a joint article in the Wall Street Journal today.
''We agree that a one-off tax in relation to bonuses should be considered a priority, due to the fact that bonuses for 2009 have arisen partly because of government support for the banking system," the two leaders wrote.
'It is clear the action that must be taken must be at a global level. No one territory can be expected to or be able to act on its own." >>> Adam Sage in Paris and Emily Ford | Thursday, December 10, 2009
