Banking tax is a 'political attack'

Taxes on bankers' bonuses are a "political attack", according to Rob Moulton, a partner at corporate law firm Nabarro.

Mr Moulton claimed that that the tax has been applied too generally and that it fails to differentiate between those who benefited from the government's financial support and firms too small to ever warrant a government bail-out.

According to Mr Moulton, this indiscriminate taxation has left some "feeling that it is all very unfair".

He continued: "It's a political attack on big paying financial services rather than a targeted attempt to raise money or to get a contribution from people who have actually benefitted from the government's financial support."

The comments come after news that high level financial workers are transferring their money abroad and leaving the UK at a rate of around ten people a week.

Mr Moulton believes that the nature of the job could easily allow workers to live abroad and that employers may even use the flexibility of the role "as a selling point".

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Posted by Alan Smith