Could a global banking tax save Gordon Brown?
It seems that each and every day sees a new supporter of the proposed worldwide banking tax, otherwise known as the "Tobin tax" or the "Robin Hood tax", but will this new tax actually make it onto the statute books?
While there is still great resistance from the UK banking arena, and the worldwide banking arena, if we see another economic downturn around the world in the short term it is likely the pressure will grow and governments could have the opportunity to force through change. Many people also believe that introduction of a new banking levy around the world could actually save Gordon Brown's career and push him forward as the "international statesman" he so wants to be.
Figures released yesterday indicate a worldwide banking levy could raise upwards of £250 billion a year although quite how this would be spent and who would be in control remains to be seen. If the ongoing push for the introduction of a new levy is not successful in the short term there is a chance it could fade away, at least for the moment, and the banking arena would breathe a massive sigh of relief.
Whether or not it is fair to introduce yet another tax on the banking arena is a matter which is very much open to debate!
Share this..
Related stories
United Arab Emirates celebrates 38th birthday
What a time for United Arab Emirates to celebrate its 38th year in existence with the Dubai debt crisis creating a large cloud over the area. The behind-the-scenes action continues with regards to Dubai with a general assumption that the Abu Dhabi authorities will step forward to cherry pick the best assets and offer partial assistance to the Dubai government. This is almost certain to happen soon...
Read MoreAre We Approaching The Age Of Public Transport?
As the price of oil, and consequently fuel, continues to spiral higher in the UK and car taxes look set to rise again there is speculation that the main boom area of the future will be pubic transport companies. When you also take into account the growing number of green taxes hitting the UK motorist, slowly but surely it looks as though we are all being pushed towards public transport. But will...
Read MoreTreasury criticised on inheritance tax
More than half of detached houses in over 50 per cent of postcode districts in England and Wales are above the inheritance tax threshold, the Halifax bank has revealed.In total 29 per cent of detached houses across the UK are liable to pay the tax on properties worth over £300,000.This proportion has increased from 16 per cent five years ago, leading Halifax to criticise the gradual increase in T...
Read MorePensioners are missing out on higher incomes
11/12/2014 Some pensioners are missing out on a higher income from their annuity because they did not shop around. An annuity is usually purchased through pension savings and pays out a regular income for life. The Financial Conduct Authority has said that because of this, some pension providers are failing their customers, especially in the case of enhanced annuities. Enhanced annuities ar...
Read MoreTory party fightback with tax break plans
After initially seeming to ridicule Gordon Brown's rumoured £15 billion tax cuts it seems as though the Tory party have a programme of tax breaks of their own to announce over the next few days. However, it appears as though the Tory party plan is to give equal tax breaks to business and the consumer thereby ensuring that the UK economy can grow on both sides. David Cameron has suggested that "we...
Read More