Miliband: Unfair and misjudged

Ed Milband comments on bank bonuses:

“Last year Labour’s bonus tax raised £3.5 billion from the banks. This year the government’s levy will raise just £1.25 billion – a huge tax cut for the banks at a time when everyone else is paying more.

“This is not just unfair. It is, once again, the wrong economic judgment. We believe the extension of the bonus tax for another year is not only fairer but also more responsible. That is because we would use the money raised to support economic growth.

“They have had eight months to come up with a growth strategy and all they can come up with a proposal to make it easier to sack workers.”