David Jetuah, Accountancy Age, Wednesday 29 September 2010 at 09:48:00

Stephen Hester concedes there is a good case for banks paying higher taxes as financial institutions continue to be propped up by the government


The Royal Bank of Scotland's most senior executive has admitted banks should pay more in tax after being saved from the threat of collapse with government bailouts.

Stephen Hester acknowleded that banking giants were still in the debt of taxpayers as the UK government still held an 83% interest in RBS, the Daily Herald reported.

?That there should be a bit of extra taxation seems to be pretty hard to resist,? Hester said.

Further reading:

Milliband turns on the banks