The French government plans to tax bonuses awarded to bank employees next year at 50%, taking its cue from Britain in a move aimed at soothing public outcry over remuneration in the financial industry.

If approved by Parliament, the levy will apply to bonuses above 27,500 ($40,000), French Finance Minister Christine Lagarde said Wednesday. The proceeds will help fund the extension of state guarantees on bank deposits. The government said last week that it planned a one-time tax on bonuses, but hadn't announced the details.