New tax on banks

Posted on

Tax raid on banks planned by ministers - Telegraph.

Crikey - that was quick - Polly argued for this in the Guardian - I've argued for it, often and now the Telegraph says it's going to happen.

Sounds like a Pre-Budget Report warm up to me

And I am quite convinced it is the right thing to do. Banks have to repay society. Banks are liquid now - using government money. If they need new capital they should raise it, not save it. And HMG needs the tax - plus to cost of doing business for banks has to increase.

Go for it, I say.