A mystery £1.2bn "hole" has emerged in the money the UK government raised from the one-off bonus supertax. We asked the Treasury the following ten questions to find an answer. The Treasury declined to comment.
1) HM Treasury says the bonus tax changed behaviour and at least some banks paid less in bonuses than they otherwise would have done. What is the total value of bonuses that the Treasury forecast would have been paid without the bonus tax in place? On what basis was this figure calculated?