SHOOTING ITSELF IN THE FTT

摘要

Baldrick, in the guise of the European Commission, has come up with a 'cunning plan'. I refer of course to the proposed financial transaction tax. Several commentators have suggested that the UK will veto the FTT and, implicitly, that that will be the end of it. However, rage against bankers, the lure of additional EU revenues (if the tax base does not disappear) and the fact that many member states have less developed financial markets, may mean that enough member states press ahead and impose it anyway and it could still affect the UK. Those member states may need to be shown why the commission's justifications are misguided.