Read and Weep!

'The report estimates that a financial transaction tax (FTT), as proposed earlier this week by Germany and France, could cost financial markets across the EU between €24.3 billion and €80.9 billion, with the UK financial markets absorbing between €17.5 billion and €58.2 billion (£15bn and £49.9bn) of that cost, using the Commission’s rate of 0.1% for bonds and shares and 0.01% for derivatives and without a burden-sharing system. A large part of these costs would be passed on to consumers.' (Open Europe.)
                                Beyond belief!