TaxCorporate TaxLib Dems propose ‘super tax’ for banks

Lib Dems propose ‘super tax’ for banks

Extra tax on banks “morally justified”

Lib Dem leader Nick Clegg

Liberal Democrat leader Nick Clegg wants banks to pay a “premium rate” of
corporation tax as penance for their behaviour in causing the credit crisis.

He believes the banks have acted in an anti-competitive and greedy fashion,
and has instructed Lib Dem Treasury spokesman Vince Cable to look into a
proposal to charge the industry additional tax, according to the
Financial Times.

The tax would be in force over several years, rather than being a windfall
tax, was “politically, economically and morally justified” and could help cut
the huge budget deficit.

Further reading

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