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Europe rejects UK challenge to Financial Tax

Cliff

Distinguished Member
This is quite an interesting development, at a time when we are being told by Clegg and others that the EU has a very minimal influence on our laws and regulations.

Certainly, the UK government and the labour party have their own ideas about taxing the square mile.
How many times have we heard the popular mantra- We will tax the bankers and use the money to help....... (insert good cause)

BBC News - Europe rejects UK's financial transaction tax challenge


At a time when when our part in Europe is being debated, the result of this action could be interesting.
 

pragmatic

Distinguished Member
More interestingly I was thinking this morning, if Scotland decide to leave the UK, they will albeit temporarily (or not) outside of the EU, in which case this law would need not apply and so all the banking might instead of fleeing Edinburgh to London actually all go the other way.

Unfortunately laws and taxes against bankers will be seen in a positive light, so will not galvanism opinion and is certainly not something UKIP would use if they had any sense, at least without some strong analysis to say what this is going to cost, i.e. 3 hospitals will have to close because of this EU law targeted primarily at the UK by vindictive and jealous EU executive.

Also remember the idea that no law would be enforced on member states, council of ministers, checks and balances ... all rubbish. We need our sovereignty back, otherwise to give just one current example we might get hit by sanctions in the future like Germany are threatened with for their success if our incredible manufacturing revival continues at pace.
 

Cliff

Distinguished Member
More interestingly I was thinking this morning, if Scotland decide to leave the UK, they will albeit temporarily (or not) outside of the EU, in which case this law would need not apply and so all the banking might instead of fleeing Edinburgh to London actually all go the other way.
Only problem with that idea is that Alex Salmond is uber socialist bordering on communist. He will be taxing everything including the air we breath. In fact given his proposed spending plans he will have to.
 

sidicks

Banned
More interestingly I was thinking this morning, if Scotland decide to leave the UK, they will albeit temporarily (or not) outside of the EU, in which case this law would need not apply and so all the banking might instead of fleeing Edinburgh to London actually all go the other way.

Unfortunately laws and taxes against bankers will be seen in a positive light, so will not galvanism opinion and is certainly not something UKIP would use if they had any sense, at least without some strong analysis to say what this is going to cost, i.e. 3 hospitals will have to close because of this EU law targeted primarily at the UK by vindictive and jealous EU executive.

Also remember the idea that no law would be enforced on member states, council of ministers, checks and balances ... all rubbish. We need our sovereignty back, otherwise to give just one current example we might get hit by sanctions in the future like Germany are threatened with for their success if our incredible manufacturing revival continues at pace.

What's the issue?

Bankers are bad, taxes are good. So taxes on banks (and bankers) are especially good.

What could possibly go wrong..??!
:devil:
 
D

Deleted member 13294

Guest
A serious lack of understanding here it seems.

Let's be clear. The net result of this is a tax on the UK financial service industry to the benefit of the rest of Europe. (As in the proceeds go to the EU, not the country which paid the tax).

There will also be a net benefit to the financial services industry outside the UK / EU which will be able to undercut us by offering services without this tax burden.

Anyone who thinks this will be good for the UK needs their head examined.
 

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