The Chancellor's bid to stop the UK banking system's excessive bonus culture with the use of a 50% bonus 'supertax' has failed, government officials have admitted. Many financial institutions are planning to pay the charge rather than reduce the remuneration packages dished out to staff members. Alistair Darling's allies have admitted many of the big financial institutions have not responded to the tax, although it will mean the Treasury is set to gain a windfall amount of money in the build up to the general election, the FT reports. An unnamed government official told the newspaper that it is likely the banks will pay the tax.