The Treasury is to benefit to the tune of more than £2.5 billion as professionals in graduate finance jobs pay their taxes on this year's bonuses, it has been revealed.
According to new research carried out by the Financial Times, while the UK economy may still be coming out of recession, many banks and accountancy firms are once again in rude health and as such are set to pay out billions in bonuses at the end of the current financial year.
While such incentives have been the focus of criticism over recent months, the newspaper's study found that bankers and other finance industry professionals are set to pay a collective £2.5 billion in taxes.
This compares to the figure of £500 million the chancellor Alistair Darling predicted the Treasury would reap, despite the fact that he oversaw the pushing through of the government's supertax on bonuses of £25,000 or more.
This comes soon after Barclays reported a 114 per cent increase in annual profits, though Royal Bank of Scotland announced it made a loss over the past year.
