The Prime Minister and the French president have co-signed an article for the Wall Street Journal setting out their shared ambition of a new ''compact'' between the banks and society.
It included an appeal to fellow world leaders to impose a one-off tax on bankers' bonuses, as Chancellor Alistair Darling announced for the UK's pre-Budget report.
The joint article came as Mr Brown and Mr Sarkozy prepared to meet in Brussels ahead of a European Council gathering.
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Bankers: Give Us Our Money Back
London's bankers are threatening to quit the city following the British government's announcement that it will be taxing bonuses at 50 percent this year. “I can’t tell you how many people have called me from London asking to move,” one Wall Street banker told the Financial Times. “The question all the banks have now is: who the hell wants to be in the U.K.? Some businesses will definitely leave.” The new government plan, announced Wednesday, would leave the first $40,800 in bonus money tax-exempt. Added a British banking official, “Viewed from abroad, London may well look now like a significantly less attractive place to build a business.”
Read it at Financial Times
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