£2.5bn bank levy unveiled in UK

Britain's banks will pay an extra £2.5bn (€2.81bn) in tax a year by 2012 under draft legislation published today in a British government move to repair some of the damage caused by their role in the financial crisis.

£2.5bn bank levy unveiled in UK

Britain's banks will pay an extra £2.5bn (€2.81bn) in tax a year by 2012 under draft legislation published today in a British government move to repair some of the damage caused by their role in the financial crisis.

The levy will apply charges to the global balance sheets of UK banks and the British operations of foreign firms, the British Treasury said.

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