Qualified advisers answering your
Financial Questions
call 0800 092 1245

European finance minister gunning for London

Michael Barnier, the new European Union finance minister, has set about his new role within the EU with a warning to the city of London that the infamous square mile faces further regulation in the short term. For some reason London appears to be set to bear the brunt of stricter EU regulations regarding the banking sector amid claims that EU member states are looking to grab the power from London and spread this out amongst the European investment market.

More and more it is becoming clear that the Labour government has been "stitched up" with regards to the EU power sharing program having been bagged the foreign minister role yet effectively left London high and dry and open to further strict regulation from the new EU finance minister. Not only will further regulation on the London markets impact upon activity and the attractions of the UK but they will also impact directly upon UK government income which was £7 billion a year in corporation tax, with income tax on top, before the credit crunch.

The UK government has been led a merry dance by EU partners but unfortunately it looks as though the rest of the UK will ultimately pay the price with an expected sharp reduction in income from the UK financial markets.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details