http://www.bbc.co.uk/news/business-16505795 One question though. I'm no expert so would this really benefit the country or would it just benefit the bankers?
I've agreed to switch jobs next month to a company heavily focussed towards customers in the Far East. Evolve or die bitches
The Krauts and Frogs wanted to impose a ruinous tax on The City in order to raise some funds to bail out their failed currency. Sarkozy threw a hissy fit when Dave said "non". The more we develop trade with the BRIC countries the better as the Krogs will make it difficult for us in Europe from now on.
I think the tax revenue generated would be a drop in the water compared to their ever growing debts. I believe the tax is intended for two reasons, one to punish the people who got us into this mess - and two to clip their financial wings and not let this happen again, as they will have to put a little more thought into trades when each one has a tax cost and each of the trades will be fully traceable because of the need to submit audits to the tax man. This would hopefully prevent another scenario where assets are crashing but nobody has any idea who is actually owns the assets or has the assets mixed in with their pool of bonds. But I agree the tax would be bad for the City of London which has a lot to lose as the world's biggest tax haven.
