18 Mar 2009

Where the US leads, could others follow?

AIG, the US insurer which got through $170bn of taxpayers’ money in order to survive and then had the cheek to pay $165m of it to dozens of senior executives, is up before a congressional committee today.

But we have also now learnt that the lawmakers in the US are exploring whether it can levy a 100 per cent tax on said executives.

It poses the question here: could the UK Treasury instigate a total withholding tax on the HBOS and Northern Rock and RBS executives and board members who either took the money in pensions and bonuses or, alternatively, sanctioned it?

Answers on the usual postcard/blog card, please.

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