Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

The City's tax bill approaches pre-crisis high

The City's tax bill approaches pre-crisis high

The City paid £65 billion in taxes this year, the highest level since 2007 and an amount which equated to 11.7% of total government revenues in 2013.

Although slightly below the 13.9% of total government revenues that the financial services industry accounted for in the run up to the credit crunch, banks and other institutions are continuing to provide a key support to balancing the nation's books.

Rising salaries and bonuses in the City saw employment taxes paid rise by £700 million year on year to £28.4 billion, according to a report by PricewaterhouseCoopers for the City of London Corporation.

Chancellor George Osborne has been a staunch defender of the City and attempts by the EU to curb bankers' bonuses.  

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Play Japan's slump, the umbrella revolution and the battle for Brazil

Japan's slump, the umbrella revolution and the battle for Brazil

With the arrows of Abenomics appearing to be missing their targets and political uncertainty rife in Hong Kong and Brazil we take a look at investor sentiment in this week's Investment Pulse

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter