Meanwhile, a report by Open Europe found that the plans by Germany and France to introduce a financial transaction tax (FTT) could raise a total €80.9bn – of which €58.3bn would come from UK-based businesses.
That is of course the statutory incidence, not the economic incidence.
But I do very much doubt that even Cameron would sign up for something quite so lopsided.
3 responses so far ↓
1 Antisthenes // Aug 20, 2011 at 8:57 am
As you say nothing like 80.90 billion. All that will happen is that the financial services sector in the UK (London) will up sticks and move.
2 Gary // Aug 20, 2011 at 8:59 am
The next paragraph of the piece reads:
“Open Europe said the plans for the tax were economically and politically flawed”
3 Mr Ecks // Aug 20, 2011 at 10:12 am
Wanna bet?.
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