"George Osborne won surprisingly wide backing today for his blunt rejection of a so-called

Robin Hood tax on financial transactions that would apply only in Europe."

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"A financial transaction tax is paid for by the end beneficiaries of financial transactions"

ok, fine i can accept that to an extent - instead of the banks swallowing the whole of the tax and it being taken out of their profits they simply charge higher fees to cover the tax, however then i don't fully understand this:

"I am all in favour of taxes that are paid by bankers and banks and that is why I have introduced a bank levy in the UK paid for by banks and their shareholders."

how have you stopped the banks passing on that cost?

Posted By: Ralf Scrampton on November 8th 2011 at 14:40:47


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