Moustache Twirling Bankers Sip Brandy With Osborne

[Christov]

They are literally at cartoon levels of villainy now.

Some highlights;

The government is preparing to cut the tax it expects to impose on City banks through George Osborne's £2.5bn a year levy, prompting a furious reaction from tax experts and opposition MPs.

After being alerted by leading banks that the proposed levy could raise an unexpectedly high £3.9bn a year, the Treasury is considering cutting the rate of the tax on UK and international banks to ensure the chancellor's £2.5bn target is not breached.

The Treasury had consulted on a levy that would consist of a charge of 0.04% of a bank's total balance sheet in the first year — generating £1.1bn — rising to 0.07% in 2012-13 to raise £2.3bn and up to £2.5bn in 2013-14.

Ridiculous. Coming from the Government who claimed we needed every penny we could get to lower the deficit, which in turn was mostly created by bailing these fools out, this is entirely hypocritical. I knew this Government had just as many special interests as the last, but this is simply obscene.

"But these banks make 30% of the GDP in the UK!". Yes, they do, but barely enough to matter gets repatriated to the rest of the country through investment and growth. The Square Mile matters only to the Square Mile. HSBC has openly said they'll move elsewhere if they have to split their business, Barclays is considering it, and JP Morgan have already just about cancelled plans for a London HQ.

My country is being held to ransom by the banks, and the Government is as good as enabling them.

 

[1300 Class]

 

[diggers1917]

 

[1300 Class]

 

[diggers1917]

 

[Christov]

 

[FatAndProud]

 

[Christov]

 

[FatAndProud]

 

[Christov]

 

[FatAndProud]

 

[Big Beautiful Dreamer]