Lib Dems propose ‘super tax’ for banks

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

Tax
bombshell – what the major political parties have planned for tax

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