Dave Goes for the Golden Goose.
Discussion
He's not very good at being a small government, low tax, friend of business is he?
"Tory leader David Cameron has announced plans for a new tax on banks - even if other countries decide not to do so.
Mr Cameron has dropped his condition that he would only introduce such a tax if other countries did.
In a speech in London, he said the levy was "necessary" and the banks were one of the "vested interests" he was determined to confront."
http://news.bbc.co.uk/1/hi/business/8577603.stm
"Tory leader David Cameron has announced plans for a new tax on banks - even if other countries decide not to do so.
Mr Cameron has dropped his condition that he would only introduce such a tax if other countries did.
In a speech in London, he said the levy was "necessary" and the banks were one of the "vested interests" he was determined to confront."
http://news.bbc.co.uk/1/hi/business/8577603.stm
k witt!!"The Tories, who have not yet provided any details of how their scheme would operate"
Something inside me suggests the BBC are blowing it out of proportion and it's only an idea being thrown around and not something that will actually be done, testing the waters that's all. It's the BBC, they are fully paid up members of the Labour party so love these sorts of situation where they can embellish something non-Labour.
Besides, public money was used to bail the banks out. That money needs to be repaid to us all, just like any loan, just like any bank lending you money they would expect it to be paid back in full. Or do you like throwing money at loss making companies without any hope of any return?
Something inside me suggests the BBC are blowing it out of proportion and it's only an idea being thrown around and not something that will actually be done, testing the waters that's all. It's the BBC, they are fully paid up members of the Labour party so love these sorts of situation where they can embellish something non-Labour.
Besides, public money was used to bail the banks out. That money needs to be repaid to us all, just like any loan, just like any bank lending you money they would expect it to be paid back in full. Or do you like throwing money at loss making companies without any hope of any return?
EDLT said:
Is he being the least-tory tory possible just to get elected, I'm not sure the backbenchers would be happy if he followed this through.
How can anyone possibly have faith in a system where people say "I'll do X" to get elected and then once in power actually does Y?Really the system is actually worse than the people taking part.
Fittster said:
EDLT said:
Is he being the least-tory tory possible just to get elected, I'm not sure the backbenchers would be happy if he followed this through.
How can anyone possibly have faith in a system where people say "I'll do X" to get elected and then once in power actually does Y?Really the system is actually worse than the people taking part.
Zod said:
You are falling for Labour propaganda (aka the BBC). Cameron's proposal is for compulsory insurance for banks based on balance sheet size, the premiums to be paid into a government fund, not Brown's idiotic transaction tax.
This. 
I only scan read it due to it being a British Socialist Broadcasting Corporation item.
FourWheelDrift said:
Zod said:
You are falling for Labour propaganda (aka the BBC). Cameron's proposal is for compulsory insurance for banks based on balance sheet size, the premiums to be paid into a government fund, not Brown's idiotic transaction tax.
This. I only scan read it due to it being a British Socialist Broadcasting Corporation item.
Fittster said:
EDLT said:
Is he being the least-tory tory possible just to get elected, I'm not sure the backbenchers would be happy if he followed this through.
How can anyone possibly have faith in a system where people say "I'll do X" to get elected and then once in power actually does Y?Really the system is actually worse than the people taking part.
FourWheelDrift said:
Zod said:
You are falling for Labour propaganda (aka the BBC). Cameron's proposal is for compulsory insurance for banks based on balance sheet size, the premiums to be paid into a government fund, not Brown's idiotic transaction tax.
This. I only scan read it due to it being a British Socialist Broadcasting Corporation item.
Zod said:
You are falling for Labour propaganda (aka the BBC). Cameron's proposal is for compulsory insurance for banks based on balance sheet size, the premiums to be paid into a government fund, not Brown's idiotic transaction tax.
Perhaps I missed something. The BBC article reported Cameron's proposal, the government's intention and the Lid Dems position on the matter. Where was this propaganda??Hopefully the Telegraph isn't yet considered to be too left wing by PH.
"Senior London bankers said they were "deeply worried" by the proposals that emerged over the weekend for a new tax, adding that if any measure were enacted unilaterally it could have disastrous consequences for the City of London and the financial services industry in the UK.
Sources at the UK's major lenders said they were "concerned" and "uncomfortable" with the idea of Britain introducing a levy on the industry. They said that the tax could force banks to move operations overseas.
On Saturday David Cameron, the Tory leader, said that his party will impose a bank levy – being dubbed a "pollution tax" – if it wins the general election. The party would introduce the tax even if there was no international consensus.
bank tax would be seen as a vote-winner, given the billions of pounds of taxpayers' money spent propping up banks such as Lloyds and Royal Bank of Scotland.
However, one senior banking executive said: "There are two things we find uncomfortable. Firstly we are worried that the impact of an additional tax on top of much higher capital requirements will make it impossible for us to maintain lending at its current level.
"Secondly, we are concerned at the idea of the UK going it alone on this. There is a genuine feeling at the bank that if you punish the industry too much it will damage London as a financial centre and will force us to look at moving business elsewhere."
Mr Cameron admitted a levy would not be popular with the industry but said he would not "shy away from confronting some of the biggest vested interests in our country – the banks". He said that the levy is "fair and necessary".
http://www.telegraph.co.uk/finance/newsbysector/ba...
"Senior London bankers said they were "deeply worried" by the proposals that emerged over the weekend for a new tax, adding that if any measure were enacted unilaterally it could have disastrous consequences for the City of London and the financial services industry in the UK.
Sources at the UK's major lenders said they were "concerned" and "uncomfortable" with the idea of Britain introducing a levy on the industry. They said that the tax could force banks to move operations overseas.
On Saturday David Cameron, the Tory leader, said that his party will impose a bank levy – being dubbed a "pollution tax" – if it wins the general election. The party would introduce the tax even if there was no international consensus.
bank tax would be seen as a vote-winner, given the billions of pounds of taxpayers' money spent propping up banks such as Lloyds and Royal Bank of Scotland.
However, one senior banking executive said: "There are two things we find uncomfortable. Firstly we are worried that the impact of an additional tax on top of much higher capital requirements will make it impossible for us to maintain lending at its current level.
"Secondly, we are concerned at the idea of the UK going it alone on this. There is a genuine feeling at the bank that if you punish the industry too much it will damage London as a financial centre and will force us to look at moving business elsewhere."
Mr Cameron admitted a levy would not be popular with the industry but said he would not "shy away from confronting some of the biggest vested interests in our country – the banks". He said that the levy is "fair and necessary".
http://www.telegraph.co.uk/finance/newsbysector/ba...
Fittster said:
Hopefully the Telegraph isn't yet considered to be too left wing by PH.
"Senior London bankers said they were "deeply worried" by the proposals that emerged over the weekend for a new tax, adding that if any measure were enacted unilaterally it could have disastrous consequences for the City of London and the financial services industry in the UK.
Sources at the UK's major lenders said they were "concerned" and "uncomfortable" with the idea of Britain introducing a levy on the industry. They said that the tax could force banks to move operations overseas.
On Saturday David Cameron, the Tory leader, said that his party will impose a bank levy – being dubbed a "pollution tax" – if it wins the general election. The party would introduce the tax even if there was no international consensus.
bank tax would be seen as a vote-winner, given the billions of pounds of taxpayers' money spent propping up banks such as Lloyds and Royal Bank of Scotland.
However, one senior banking executive said: "There are two things we find uncomfortable. Firstly we are worried that the impact of an additional tax on top of much higher capital requirements will make it impossible for us to maintain lending at its current level.
"Secondly, we are concerned at the idea of the UK going it alone on this. There is a genuine feeling at the bank that if you punish the industry too much it will damage London as a financial centre and will force us to look at moving business elsewhere."
Mr Cameron admitted a levy would not be popular with the industry but said he would not "shy away from confronting some of the biggest vested interests in our country – the banks". He said that the levy is "fair and necessary".
http://www.telegraph.co.uk/finance/newsbysector/ba...
Come on, let's consider how any Tory legislation might be written."Senior London bankers said they were "deeply worried" by the proposals that emerged over the weekend for a new tax, adding that if any measure were enacted unilaterally it could have disastrous consequences for the City of London and the financial services industry in the UK.
Sources at the UK's major lenders said they were "concerned" and "uncomfortable" with the idea of Britain introducing a levy on the industry. They said that the tax could force banks to move operations overseas.
On Saturday David Cameron, the Tory leader, said that his party will impose a bank levy – being dubbed a "pollution tax" – if it wins the general election. The party would introduce the tax even if there was no international consensus.
bank tax would be seen as a vote-winner, given the billions of pounds of taxpayers' money spent propping up banks such as Lloyds and Royal Bank of Scotland.
However, one senior banking executive said: "There are two things we find uncomfortable. Firstly we are worried that the impact of an additional tax on top of much higher capital requirements will make it impossible for us to maintain lending at its current level.
"Secondly, we are concerned at the idea of the UK going it alone on this. There is a genuine feeling at the bank that if you punish the industry too much it will damage London as a financial centre and will force us to look at moving business elsewhere."
Mr Cameron admitted a levy would not be popular with the industry but said he would not "shy away from confronting some of the biggest vested interests in our country – the banks". He said that the levy is "fair and necessary".
http://www.telegraph.co.uk/finance/newsbysector/ba...
I suggest it will boil down to, "This levy will be applied to any Bank that does not support the economic aims of this Government".
See, satisfies most on all sides.
Being suitably vague.
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