Articles

Introduction of Financial Transaction Tax

In Uncategorized on November 7, 2011 by grahamharrowell

Dave Cameron, well informed as usual, made a very subtle announcement today of the introduction of the Tobin Tax in the UK. He pointed out that 80% of the taxable transactions would be in the UK and that (with his usual smug grin) he might as well tell France to introduce a cheese tax.

Well Dave, the VAT on cheese has been (until now) 5.5% but PM Francois Fillon announced that most basic rate VAT would now rise to 7%.

So, there is a cheese tax. Logically,unless Dave C wants to make a U-turn, there will now be a financial transaction tax in UK.

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