Labour has called on ministers to impose tax on bank bonuses in the in the wake of the latest scandals to hit the City. The Government was urged to impose the tax in addition to its existing bank levy and use the funds to finance job opportunities to save youngsters from the dole queue.
Shadow Treasury minister Catherine McKinnell said the plan would make the banks "pay their fair share in tax instead of letting them get away with it". Ms McKinnell said:
The money raised would create 100,000 jobs for young people, she added.