In his pre-budget report, the Chancellor unveiled a one-off 50% tax on bank bonuses over GBP25,000. Respondents to the CISI survey were invited to give their views and a concern raised by many was that the tax could force bankers to leave the UK.
One opponent of the measure said: “This is blatant electoral opportunism and will see wealth generators leave this country in their droves. In the long term, talent will be driven away, London will be less competitive and we will no longer be at the forefront of the financial industry.”
However, the 39% of respondents supporting the tax are of the opinion that it is important that the industry cleans itself up and most bankers would not have a job without the direct input of public money.
Formed in 1992, the CISI is an examining, training and membership body for the securities and investment industry with over 40,000 members in the UK . A member of the FSA, it works in close cooperation with regulators, firms and other professional bodies worldwide.
