Labour opens new front in battle with the City | Politics | The Guardian .

Two policies I've helped promote look like getting prominence in the PBR today. As tghe Guardian notes:

Alistair Darling will use tomorrow's pre-budget report to impose a one-off tax on this year's bonus round, but No 10 will further step up the squeeze on the Square Mile on Thursday with a 60-page report making the case for a so-called transactions tax on all City trading, and an insurance scheme to stop taxpayers being forced to foot the bill for any future banking crises.

The TUC has been the only body to call for a financial transaction tax in the UK alone. It's been criticised for it, but the timing is undoubtedly right. I advise the TUC on tax.

And I have long argued for an additional tax on banks to pay for the effective insurance of their deposits.

I hope we get both.