http://www.bbc.co.uk/news/business-15090761

I believe the financial transaction tax is a good idea. I don't think that a bit less trading volume (caused by higher costs) would hurt. Even if that means few jobs lost in London.

it's just a tax on london and one that will probably result in less tax since it will just empty london and relocate outside the EU, so not only would the new tax generate little revenue, tax revenue would be lost from payroll and corporation tax due to the loss of the financial business and this would multiply out by all the other secondary and tertiary businesses.

+1

.........

Its a terrible idea, good for certain non EU countries though..

I'm against taxes in principle, especially ones raised by the EU to get it out of a mess of its own making.

Better to plug the hole that looses 10% of it's income to corruption annually and produce accounts that can be approved by its auditors for a change.

Such a tax would benefit Switzerland though...

so OK to bail out broke financial institutions using taxpayer money but no taxes on financial transactions making billions for the banks?hmmm...interesting

You are a pretty little straw man arent you? No one said OK to bail out anyone, at least no one on this thread. Banks made money through their own skill. The fact that someone is making money isn't a good enough reason to tax them. And remember this: banks are essentially mobile operations. They contributed tens of billions to the UK economy. And they can leave any time.

sharing the wealth comes to mind...they've been bailed out and so a bit of a payback in form of a tax cannot hurt anyone right? or have the banks somehow paid all of their debts back?
Picking-up and going elsewhere might help in the long run...manufacturing might make a comeback, next Dyson will be appear etc etc...maybe it is time for another country to benefit from the fortunes and misfurtunes of the investment banking

The UK can't do manufacturing. They've proved that time and again. I was against the bailout, but don't think that government doesn't act in it's own self interest too: the bailout helped more than just the banks.

The transaction tax is not the problem, is who would collect it.
Would you buy a second-hand car from Baroso or any of his bureaucrats?

Auditors have refused to approve EU budget for over ten years in a row.

If such tax is introduced, the money should be kept in the UK.

Because they are too stupid...Germany instead can, and unions there are very strong (so it's not China...no cheap slaves). Luckily the Germans don't believe in the crap that is the Anglo-American economic model, and in fact the only German "liberal" party, the FDP, has 1 digit percentages. By the way, it's true, investment banks create lots of jobs...for cocaine dealers and high-class escorts. The UK is the trojan horse of the US in Europe...De Gaulle was right, we should have never let them enter into the EU.

LOL mate. You're on the wrong forum.