The government has no desire to hit banks with a windfall tax, according to
Gordon Brown’s right-hand man.
Economic secretary to the Treasury Bank, Ed Balls, said profits are viewed as
essential to allowing the industry to grow and flourish, and rejected plans to
implement price-setting, which would limit profits.
His comments to the British Bankers’ Association helped allay fears in the
banking industry that a windfall tax would be placed on banks.
The possibility of a windfall tax has been feared ever since Don
Cruickshank’s 2000 report into banks found that they made ‘super-normal’
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states