EDITOR'S TAKE: Ironically, last year's bonuses could help Labour win
Given the choice, we suspect many front office bankers would prefer to see Gordon deposed in the forthcoming UK election.
City donations to the Conservative party have surged, and bankers reportedly break into a rage at the mere mention of Gord and friends.
It's ironic, therefore, that banks' apparent failure to heed Alistair Darling's calls for bonus restraint, could go some way to helping Labour retain power at the coming election.
Cries of fat cattery, play well with the disaffected 'taxpayers,' 75% of whom now want bonuses to be capped.
And today, the Financial Times is reporting that the tax has raised 2.5bn for the Treasury, providing the government with an 'unexpectedly large windfall' to spend on vote-gathering initiatives ahead of the election.
No matter which party is elected, taxes will rise. But if Labour is elected, the amount of tax paid by bankers is likely to rise more. From this perspective, the big bonuses of 2009 could prove rather short sighted.
