The one-off levy on bankers' bonuses has raised £2 billion, UK chancellor Alistair Darling has revealed.
Original estimates were far lower, with the chancellor expecting the tax to generate just £550 million.
The extra revenue will be used to fund the £2.5 billion growth package aimed at stimulating the economy.
Mr Darling said: "I made it clear that banks had a choice of whether to pay bonuses or not. But if they did, given the amount of support the taxpayer had provided, I believed it was right that the country as a whole should benefit."
Those receiving bonuses will also have to pay income tax at the highest rate, according to the chancellor.
A 50 per cent tax on UK banks for bonuses above £25,000 was introduced by Mr Darling in December last year.
Although the tax is to be paid by the employer rather than staff, income tax at the top rate on any bonuses received will still need to be paid by the employee.
