03/18/2010 05:12 am ET Updated May 25, 2011

France Uses Tax To Attack Bank Bonuses, Following U.K.'s Lead

President Nicolas Sarkozy is to follow Britain's lead and impose a one-off tax on bonus pay-outs by banks operating in France.

The French government intends to include the 50 per cent tax in the budget bill going through parliament. It will be levied on bonuses above €27,000 (£24,400, $40,000) and will be paid by the banks, bringing Paris in line with London