The EU’s head of internal markets is expected to announce today that all
member states should levy a tax on banks.
Michel Barnier will say, according to the
that the proceeds should paid into a fund that would be used in the event of
another financial crisis like the credit crunch.
In partricular Barnier is to suggest that the funds would be used to “unwind
” banks that go into crisis.
Chancellor George Osborne is in favour of a tax but wants more freedom to
decide how the money should be used.
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