The former chancellor Alistair Darling has confessed his so-called super tax on bankers' as the bonuses are not working out as prescribed and is improbable to be recurring in nature.

He further added that those aimed by the 50% tax, allocated by the employers on bonuses over £25,000, and were too effortlessly able to shun it.

It has been stated by Alistair Darling, the Chancellor, that there is no stoppage to the job losses at the public sector. The economy is showing an upward trend and which means that job transfers are likely to take place just as a precautionary measure.

Chancellor Alistair Darling has warned European Union's new French Finance Commissioner against meddling with UK's financial service industry, stating that giving the EU more powers in the City would be like a "recipe for confusion". The thoughts have been shared by the Chancellor right before various Finance Ministers are to meet in Brussels.

Chancellor Alistair Darling has reassured that Britain would emerge from recession around the turn of the year.

In spite of ongoing risks to the global economy, Alistair Darling is confident of country's return to growth and a sustainable recovery.

It is worth mentioning here that Germany, Japan and France have already pulled themselves out of economic slump.

Alistair Darling is all set to release his banking reforms despite Bank of England Governor Mervyn King's declaration that he had not been told about the changes made by the Government.