"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."

User Posted Link

"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, Nov 8, 14:40:47