London Mayor, Boris Johnson, has warned that high-earning bankers are leaving the capital because of the super tax which has been introduced by the Government.In the recent Pre-Budget Report (PBR), UK Chancellor Alistair Darling confirmed there would be a one-off 50% tax on bankers’ bonuses paid above £25,000.The Chancellor said the banks, rather than the [...]

More: Super tax is threat to London warns Mayor

I would agree with that. I may not agree with the principle of extortionate bonuses but the bonuses do flood back into large swathes of London and the economy. They do push the cost of living up for the rest of us, but they do pay tax (even if they do wriggle out of a lot of it - what they pay is still quite a lot and better in the UK than Frankfurt!