UK Treasury chief Alistair Darling signalled that bankers should expect short-term pressure on large bonuses in this week's pre-Budget report to Parliament, but stressed the importance of the financial-services industry to the UK.

Two days before he will deliver an important pre-Budget report on tax and spending plans, however, Darling - speaking at The Wall Street Journal Future of Finance Initiative -- also hinted that he won't be looking to levy a large number of taxes or spending cuts this time.