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Press watch: Goldman 'backs down' on UK bonus delay

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‘Goldman Sachs has backed down from a plan to delay UK bonus payments until after the new UK tax year, which would have allowed bankers to benefit from a cut in the top rate of tax from 50 to 45%.

‘The Wall Street bank decided at a compensation committee meeting on Tuesday that it should not press ahead with the proposal. The idea – first reported by the Financial Times on Sunday – would have seen the payment of the deferred portion of bonuses from prior years delayed from February until after 6 April.

‘News of the plan prompted a flurry of criticism from lawmakers and even from within the banking industry.'

Financial Times, 15 January 2013