11/02/2010 05:12 am ET Updated May 25, 2011

Alistair Darling: Bankers' Bonus Tax FAILED

The Labour politician said the tax was likely to be a "one-off" and won't be reinstated by the Coalition, because it had failed to change behaviour in the banking sector.

"I think it will be a one-off thing because, frankly, the very people you are after here are very good at getting out of these things and... will find all sorts of imaginative ways of avoiding it in the future," Mr Darling told a financial services conference sponsored by Nomura. His remarks were reported by the Financial Times.

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