David Cameron hands bankers who fuelled credit crunch £1.9billion tax break

Chancellor George Osborne’s decision to cut corporation tax for big businesses has gifted fat cat City firms another £300million at the same timeDavid Cameron has handed bankers who fuelled the credit crunch a £1.9billion tax break, the Government’s own figures show. 

 The Prime Minister’s levy on the banks has brought in £1.6billion less than he promised over the last two years. And Chancellor George Osborne’s decision to cut corporation tax for big businesses has gifted fat cat City firms another £300million at the same time. 

The shocking figures come after Mr Osborne slashed income tax for the super-rich from 50p to 45p while hitting the poor and needy with benefit cuts. 

 Shadow Treasury minister Chris Leslie, who unearthed them, said it was outrageous that the Tories are rewarding their mates in the City while families struggle.

The Labour MP is set to tackle ministers about the bankers tax break in the Commons tomorrow. And he said: “This is effectively a tax cut of nearly £2 billion for the banks at a time when millions of working people are being forced to pay the price for this government’s economic failure.