EU to impose transaction charge

by **Euler** » Wed Sep 28, 2011 1:38 pm

Not a great idea IMHO, depending on how it would be implemented. Imposing a transaction tax in a liquid market just shows you how clueless policy makers are.

http://www.bbc.co.uk/news/business-15090761

by **superfrank** » Wed Sep 28, 2011 1:41 pm

City of London officials have said that about 80% of the revenues of any Europe-wide financial tax would come from London.

You can see why the EU love the transaction tax idea.

I'm not sure whether I'm in favour of it or not, but I don't think it will happen anytime soon.

by **Ferru123** » Wed Sep 28, 2011 2:55 pm

Cameron has decided to risk the ire of the Lib Dems, and oppose the tax: http://www.bbc.co.uk/news/business-15090761

Nice to see a bit of strong leadership for a change...

Jeff

by **superfrank** » Wed Sep 28, 2011 3:14 pm

Are Labour in favour? If they are then I'm definitely against!

by **andyfuller** » Wed Sep 28, 2011 3:53 pm

Peston is saying the 0.1% Financial Transaction Tax should in theory replace the 0.5% stamp duty

by **Euler** » Wed Sep 28, 2011 4:07 pm

Stamp duty in financials is a tax on investment which has to be the stupidest tax of all time IMHO!

Welcome to the Bet Angel Professional Community