Darling claims bonus super-tax did not work

As a populist move, I don't think Alistair actually thought it would bring in much. People who spend their days putting together complex deals, tax structures and the like for PLCs will no doubt use it for them selves.

Just about everything Blair, Brown and Darling did was a failure.

this was never going to work. If you super tax bonuses banks will setup funds which cannot be taxed, after all they seem to know tax laws better then our gov.

Atleast there wasn't a massive exodus with banking staff moving offshore. Maybe Darling should have bought into every UK bank, then he would have had more say in divi's and bonuses!

About the only successful move by B, B and D was to prevent dividends being paid by the banks and this successfully hit all the pension funds and ISAs of the people who do have to live in the real world! Obama has just achieved the same success story with BP. Wonderful these socialist politicians!

Dont forget Brown's 'successful' raid on all our pensions when he removed tax relief on dividends - but then he lives in the comfortable world of a taxpayer funded pension. .

Just one more of the many labour party failures.

This really was doomed from the start..Trying to stop payment of bonuses in banks with a global business is like singling out employees in Birmingham for the denial of bonuses while the people in Manchester, Leeds et al are receiving them.

All Mr Darling succeeded in doing was brassing off international banks with a strong London base and making them regard the UK as a poor place to do business. Stupid as it was, I would not rule out the likes of Vince Cable trying to pull the same dodge again.