Bank Tax coming?

[DonkeyApple]

There seem to be inclings of a coherant US, EU and UK strike on banks.

I have to say that if done properly (I suspect a one of hit and then a new tarif on activity) and in a unified manner then it will probably work. HK and Dubai are in no position to take any real business at this stage so if constructed well it won't lead to any exodus issues.

At the same time, I'm sure Cameron is looking at when they can start selling off their bank stocks to get some funds back but suspect that this is realistically a couple of years away yet.

An interesting observation is that if any of the EU countries fail and if any of their banks do, what will happen to British money within those banks? I doubt the Spanish will cover the losses of Abbey National clients?

[NoelWatson]

DonkeyApple said:

There seem to be inclings of a coherant US, EU and UK strike on banks.

I have to say that if done properly (I suspect a one of hit and then a new tarif on activity) and in a unified manner then it will probably work. HK and Dubai are in no position to take any real business at this stage so if constructed well it won't lead to any exodus issues.

At the same time, I'm sure Cameron is looking at when they can start selling off their bank stocks to get some funds back but suspect that this is realistically a couple of years away yet.

An interesting observation is that if any of the EU countries fail and if any of their banks do, what will happen to British money within those banks? I doubt the Spanish will cover the losses of Abbey National clients?

Why should banks pay extra tax?

[SJobson]

NoelWatson said:

Why should banks pay extra tax?

Don't they already pay more corporation tax than companies which make less profit?

[DonkeyApple]

NoelWatson said:

DonkeyApple said:

There seem to be inclings of a coherant US, EU and UK strike on banks.

I have to say that if done properly (I suspect a one of hit and then a new tarif on activity) and in a unified manner then it will probably work. HK and Dubai are in no position to take any real business at this stage so if constructed well it won't lead to any exodus issues.

At the same time, I'm sure Cameron is looking at when they can start selling off their bank stocks to get some funds back but suspect that this is realistically a couple of years away yet.

An interesting observation is that if any of the EU countries fail and if any of their banks do, what will happen to British money within those banks? I doubt the Spanish will cover the losses of Abbey National clients?

Why should banks pay extra tax?

I don't know Noel. You tell me.

[NoelWatson]

DonkeyApple said:

NoelWatson said:

DonkeyApple said:

There seem to be inclings of a coherant US, EU and UK strike on banks.

I have to say that if done properly (I suspect a one of hit and then a new tarif on activity) and in a unified manner then it will probably work. HK and Dubai are in no position to take any real business at this stage so if constructed well it won't lead to any exodus issues.

At the same time, I'm sure Cameron is looking at when they can start selling off their bank stocks to get some funds back but suspect that this is realistically a couple of years away yet.

An interesting observation is that if any of the EU countries fail and if any of their banks do, what will happen to British money within those banks? I doubt the Spanish will cover the losses of Abbey National clients?

Why should banks pay extra tax?

I don't know Noel. You tell me.

Because politicians like to blame others for something that they contributed towards?

[DonkeyApple]

NoelWatson said:

DonkeyApple said:

NoelWatson said:

DonkeyApple said:

There seem to be inclings of a coherant US, EU and UK strike on banks.

I have to say that if done properly (I suspect a one of hit and then a new tarif on activity) and in a unified manner then it will probably work. HK and Dubai are in no position to take any real business at this stage so if constructed well it won't lead to any exodus issues.

At the same time, I'm sure Cameron is looking at when they can start selling off their bank stocks to get some funds back but suspect that this is realistically a couple of years away yet.

An interesting observation is that if any of the EU countries fail and if any of their banks do, what will happen to British money within those banks? I doubt the Spanish will cover the losses of Abbey National clients?

Why should banks pay extra tax?

I don't know Noel. You tell me.

Because politicians like to blame others for something that they contributed towards?

And that's why the banks should pay more tax?

[NoelWatson]

DonkeyApple said:

NoelWatson said:

DonkeyApple said:

NoelWatson said:

DonkeyApple said:

There seem to be inclings of a coherant US, EU and UK strike on banks.

I have to say that if done properly (I suspect a one of hit and then a new tarif on activity) and in a unified manner then it will probably work. HK and Dubai are in no position to take any real business at this stage so if constructed well it won't lead to any exodus issues.

At the same time, I'm sure Cameron is looking at when they can start selling off their bank stocks to get some funds back but suspect that this is realistically a couple of years away yet.

An interesting observation is that if any of the EU countries fail and if any of their banks do, what will happen to British money within those banks? I doubt the Spanish will cover the losses of Abbey National clients?

Why should banks pay extra tax?

I don't know Noel. You tell me.

Because politicians like to blame others for something that they contributed towards?

And that's why the banks should pay more tax?

Hell no. But they may not have a choice.

[Trommel]

NoelWatson said:

Why should banks pay extra tax?

Populist opinion, of course.

[Dupont666]

DonkeyApple said:

NoelWatson said:

DonkeyApple said:

NoelWatson said:

DonkeyApple said:

There seem to be inclings of a coherant US, EU and UK strike on banks.

I have to say that if done properly (I suspect a one of hit and then a new tarif on activity) and in a unified manner then it will probably work. HK and Dubai are in no position to take any real business at this stage so if constructed well it won't lead to any exodus issues.

At the same time, I'm sure Cameron is looking at when they can start selling off their bank stocks to get some funds back but suspect that this is realistically a couple of years away yet.

An interesting observation is that if any of the EU countries fail and if any of their banks do, what will happen to British money within those banks? I doubt the Spanish will cover the losses of Abbey National clients?

Why should banks pay extra tax?

I don't know Noel. You tell me.

Because politicians like to blame others for something that they contributed towards?

And that's why the banks should pay more tax?

Why dont you pay more tax and the banks pay less?

[DonkeyApple]

Dupont666 said:

DonkeyApple said:

NoelWatson said:

DonkeyApple said:

NoelWatson said:

DonkeyApple said:

There seem to be inclings of a coherant US, EU and UK strike on banks.

I have to say that if done properly (I suspect a one of hit and then a new tarif on activity) and in a unified manner then it will probably work. HK and Dubai are in no position to take any real business at this stage so if constructed well it won't lead to any exodus issues.

At the same time, I'm sure Cameron is looking at when they can start selling off their bank stocks to get some funds back but suspect that this is realistically a couple of years away yet.

An interesting observation is that if any of the EU countries fail and if any of their banks do, what will happen to British money within those banks? I doubt the Spanish will cover the losses of Abbey National clients?

Why should banks pay extra tax?

I don't know Noel. You tell me.

Because politicians like to blame others for something that they contributed towards?

And that's why the banks should pay more tax?

Why dont you pay more tax and the banks pay less?

Who would ultimately pay any increase in banking taxation?

In essence, it would be a tax increase on the population but they would never work this out and be happy that the cruel and evil bankers were being punished.

[fido]

anonymous said:

[redacted]

but that's taking money out of the economy, innit?

[DonkeyApple]

anonymous said:

[redacted]

It's the welfare pound that has kept the economy going and made many people very rich.

Govt taxes working man. Some of that tax given to those on welfare. Every single penny of that is then spent in the economy. Lot's of people get very rich harvesting that welfare money.

I think we need to keep welfare roughly as is. It desperately needs a tidy up and we need to stop overpaying etc, but on the whole we currently need that cash coming back into the general economy.

There isn't a lot to sell off to raise significant funds.

Businesses need to be stimulated to produce more revenue and thus tax and massive projects need to be culled, changed or put on the back burner asap.

But, I very much suspect that the banking sector is going to get nobbled. It's an easy target.

When you need cash there is no point in burgling a council flat, you hit a mansion where there is lots of cash. When you are deciding which mansion to rob you'll head straight for the one where the owner is despised by everyone else so as to have fewer recriminations.

I suspect there will be some kind of transaction charge brought in by Europe and US and while windfall taxes were a Gordon favourite I don't think we can rule it out completely.

[plasticpig]

NoelWatson said:

DonkeyApple said:

There seem to be inclings of a coherant US, EU and UK strike on banks.

I have to say that if done properly (I suspect a one of hit and then a new tarif on activity) and in a unified manner then it will probably work. HK and Dubai are in no position to take any real business at this stage so if constructed well it won't lead to any exodus issues.

At the same time, I'm sure Cameron is looking at when they can start selling off their bank stocks to get some funds back but suspect that this is realistically a couple of years away yet.

An interesting observation is that if any of the EU countries fail and if any of their banks do, what will happen to British money within those banks? I doubt the Spanish will cover the losses of Abbey National clients?

Why should banks pay extra tax?

Why should anyone pay extra tax? The answer is blindingly obvious in both cases. There is the large national debt to be paid off....

[NoelWatson]

plasticpig said:

NoelWatson said:

DonkeyApple said:

There seem to be inclings of a coherant US, EU and UK strike on banks.

I have to say that if done properly (I suspect a one of hit and then a new tarif on activity) and in a unified manner then it will probably work. HK and Dubai are in no position to take any real business at this stage so if constructed well it won't lead to any exodus issues.

At the same time, I'm sure Cameron is looking at when they can start selling off their bank stocks to get some funds back but suspect that this is realistically a couple of years away yet.

An interesting observation is that if any of the EU countries fail and if any of their banks do, what will happen to British money within those banks? I doubt the Spanish will cover the losses of Abbey National clients?

Why should banks pay extra tax?

Why should anyone pay extra tax? The answer is blindingly obvious in both cases. There is the large national debt to be paid off....

Not blindingly obvious to me. Must be missing something. Too much tax and people bale out.

[fido]

plasticpig said:

NoelWatson said:

Why should banks pay extra tax?

Why should anyone pay extra tax? The answer is blindingly obvious in both cases. There is the large national debt to be paid off....

Yes, it's likely there will be a windfall tax on Banks as in 1981 - except then it was justified on the grounds that the banks made money in the exceptional economic circustances, whereas the dumbed-down populus won't understand that, and instead it will be the usual anti-bonus sentiments etc.

[thinfourth2]

It's a great idea if we as a coutry get everyone else to tax the banks and we don't

[plasticpig]

NoelWatson said:

plasticpig said:

NoelWatson said:

DonkeyApple said:

There seem to be inclings of a coherant US, EU and UK strike on banks.

I have to say that if done properly (I suspect a one of hit and then a new tarif on activity) and in a unified manner then it will probably work. HK and Dubai are in no position to take any real business at this stage so if constructed well it won't lead to any exodus issues.

At the same time, I'm sure Cameron is looking at when they can start selling off their bank stocks to get some funds back but suspect that this is realistically a couple of years away yet.

An interesting observation is that if any of the EU countries fail and if any of their banks do, what will happen to British money within those banks? I doubt the Spanish will cover the losses of Abbey National clients?

Why should banks pay extra tax?

Why should anyone pay extra tax? The answer is blindingly obvious in both cases. There is the large national debt to be paid off....

Not blindingly obvious to me. Must be missing something. Too much tax and people bale out.

Well of course they do. That might be why the coalition plans to "create the most competitive tax regime in the G20" for business. The banks might get a levy but corporation tax will fall. Some pundits reckon below 20%. So it's possible banks will actually be paying less tax.

[NoelWatson]

plasticpig said:

NoelWatson said:

plasticpig said:

NoelWatson said:

DonkeyApple said:

There seem to be inclings of a coherant US, EU and UK strike on banks.

I have to say that if done properly (I suspect a one of hit and then a new tarif on activity) and in a unified manner then it will probably work. HK and Dubai are in no position to take any real business at this stage so if constructed well it won't lead to any exodus issues.

At the same time, I'm sure Cameron is looking at when they can start selling off their bank stocks to get some funds back but suspect that this is realistically a couple of years away yet.

An interesting observation is that if any of the EU countries fail and if any of their banks do, what will happen to British money within those banks? I doubt the Spanish will cover the losses of Abbey National clients?

Why should banks pay extra tax?

Why should anyone pay extra tax? The answer is blindingly obvious in both cases. There is the large national debt to be paid off....

Not blindingly obvious to me. Must be missing something. Too much tax and people bale out.

Well of course they do. That might be why the coalition plans to "create the most competitive tax regime in the G20" for business. The banks might get a levy but corporation tax will fall. Some pundits reckon below 20%. So it's possible banks will actually be paying less tax.

Why can't other industries pay a levy rather than just banks?

[s3fella]

If the Banks get taxed extra, who at the end of the day will pay for it? You dont think they will just give 20% profits away without wacking up charges and margins by 25% do you?

[DonkeyApple]

NoelWatson said:

plasticpig said:

NoelWatson said:

plasticpig said:

NoelWatson said:

DonkeyApple said:

There seem to be inclings of a coherant US, EU and UK strike on banks.

I have to say that if done properly (I suspect a one of hit and then a new tarif on activity) and in a unified manner then it will probably work. HK and Dubai are in no position to take any real business at this stage so if constructed well it won't lead to any exodus issues.

At the same time, I'm sure Cameron is looking at when they can start selling off their bank stocks to get some funds back but suspect that this is realistically a couple of years away yet.

An interesting observation is that if any of the EU countries fail and if any of their banks do, what will happen to British money within those banks? I doubt the Spanish will cover the losses of Abbey National clients?

Why should banks pay extra tax?

Why should anyone pay extra tax? The answer is blindingly obvious in both cases. There is the large national debt to be paid off....

Not blindingly obvious to me. Must be missing something. Too much tax and people bale out.

Well of course they do. That might be why the coalition plans to "create the most competitive tax regime in the G20" for business. The banks might get a levy but corporation tax will fall. Some pundits reckon below 20%. So it's possible banks will actually be paying less tax.

Why can't other industries pay a levy rather than just banks?

I suppose the utilities could be tapped as they are all theiving scum bleeding this country dry and in need of punishment, but banks are the easiest target at present wouldn't you say?

No one is saying life is fair