Quote:
Originally Posted by g jones
The EU transaction tax would apply to all financial transactions in Europe equally.
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Come on Graham. Are you being naive or political? Or both?
70% of all financial transactions in the EU are conducted in London. So one country out of the 27 in the EU will pay 70% of that tax.Lets hope the other 26 can afford to pay the other 30% between them.
Result- the end of London as Europes financial centre. Whatever you think of our bankers their companies provide the bulk of the tax paid by companies in this country. Remove that and we'll rank alongside Romania( if we try very hard).