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David Cameron announces plans for banking tax

In a move which is certain to attract controversy in the City of London, David Cameron has announced plans for a UK banking tax if his party gains power at the next election. He has dropped his earlier condition that international counterparts also adopt a banking tax, citing the fact that taxpayers need to be repaid for their financial assistance during the recession. While this makes perfect sense, assuming that taxpayers do receive the bulk of the banking levy, it is very much at odds with the Labour Party ideal of an international banking tax.

So far, like many Conservative party policies, we have only heard the headlines with no details released about the plans. As we move closer to the election the gap between Labour party policies and Conservative Party policies is beginning to grow and voters in the UK will have a number of vital arguments to consider before placing a cross on their ballot paper.

There is no doubt that the economy will be a pivotal element of the forthcoming election and the voting polls could well change on a daily basis depending upon economic news. This is a very high risk and very high-profile strategy by the Labour Party but one which many people believe is the only way forward if it is to grab a significant portion of votes.

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