Harriett Baldwin welcomes further moves on bankers' bonuses and questions the Chancellor on plans to raise the annual levy on banks. Harriett Baldwin (West Worcestershire) (Con): Given that it is the festive season, will the Chancellor be able to spend the proceeds of his bank tax more than 10 times over? Mr Osborne: Sadly, I am not a quack doctor who can perform miracles and take a bank bonus tax and spend it 10 times over. What we have done is to introduce a permanent annual levy on the banks that raises in each and every year more than was ever raised in any year of the previous Labour Government, net, and we are using that to pay for things like new nursery care for disadvantaged two-year-olds, and of course to deal with our deficit. | Hansard