The FT is reporting today that the bankers’ bonus tax will generate £2.5 billion in revenue for the Treasury – nearly three times more than the Treasury itself expected.  Interestingly, those wise people around the Adam Smith Institute predicted that the tax would be avoided making the policy a meaningless gesture.  Or as ASI guru Madsen Pirie called it “political rhetoric largely empty of substance”.

Worth noting maybe that these are some of the same people making dire predictions about the impact of the Robin Hood Tax.

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