Fink Camp – taxing banks

Posted on April 4 2011

Just done a gig under the above title for the New Economics Foundation at Amnesty International's offices in London.

The subject - taxing banks.

Dave Hillman of the Robin Hood Tax gave that subject a good airing.

Tony Greenham of nef covered all their dimensions - and there ae many.

And I guess I talked all things tax - as is my usual pitch on such occassions.

What's the outcome? Well this:

- Taxing banks won't solve all our ills - but billions can be raised

- If banks paid more tax they'e better realise their connection to society, or it least compensate it if they did not

- If banking secrecy in all its forms was shattered we'd find it much easier to clamp down on tax evasion

- A Robin Hood Tax can work, and without being universal

- Banks won't run anywhere if we tax or regulate them as there's nowhere to go

- Trying to run the UK as the successor to Ireland - as George Osborne seems to be doing - will leave us in the same place as Osborne

- Creating a progressive tax system on bankers is essential

- Right now banks and bankers seriously underpay tax

- This is also true in Europe bu there the will to correct this exists

- Why won't George Osborne share that sentiment here - the levy is no substitute for real change?

Thanks to nef.

And good to see they supported St Peter's Brewery, Bungay when selecting the booze. It's not a Norfolk brewery by a mile or so, but it's good all the same.

Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:

You can subscribe to this blog's daily email here.

And if you would like to support this blog you can, here:

2

2 Responses

  1. Jonnyhotrod says:
    April 5 2011 at 7:49 am

    Big fan of the old St Peter’s. If only the Robin Hood Tax could be so obviously excellent. Biggest criticism I’ve heard that seems to be used as the conclusive punch of opposers is that a tax on transactions would just mean that banks don’t carry out those, largely automated, transactions, at least not in the UK. Is that right?

  2. Ryan Carter says:
    April 6 2011 at 1:15 am

    If the banks don’t carry out the larger more dangerous deals so be it, it’s a tax /I would adjust to put only on the highest risk deals, and if that is the case then obviously tax intake would be good, but would also be good lower, there to help cover our asses should it all go pear shaped again,and it should put banks off being so risky in the first place.
    This however could be easier to evade.