US Bail-Out Tax Could Hit British Banks
Posted: Sat Jan 16, 2010 6:11 amBarack Obama's proposed new tax to recoup money spent on bailing out American financial institutions could cost UK banks more than £900m a year, Sky sources have learned.
The US president defiantly said he wants to get back all of the £430bn spent on the country's Troubled Asset Relief Programme during the downturn.
Describing bank bonuses as "obscene" Mr Obama said US banks will cover a predicted £72bn shortfall in the government's financial crisis bail-out fund with a new tax.
But the planned levy would hit any bank that has a strong US presence.
Story here http://www.ananova.com/business/story/sm_3639429.html
The US president defiantly said he wants to get back all of the £430bn spent on the country's Troubled Asset Relief Programme during the downturn.
Describing bank bonuses as "obscene" Mr Obama said US banks will cover a predicted £72bn shortfall in the government's financial crisis bail-out fund with a new tax.
But the planned levy would hit any bank that has a strong US presence.
Story here http://www.ananova.com/business/story/sm_3639429.html