Doing A Bit Better, Vincey Boy!

Meanwhile, writing in the Guardian, Lib Dem Business Secretary Vince Cable argues, “The scale of British-based banks (with balance sheets valued around 500% of GDP) and the risk they pose to the UK taxpayer has meant that Britain has had to act ahead of other countries” noting that, in some cases, the UK is taking “tougher action than either the EU or the US.”
He criticises the European Commission’s proposed Financial Transactions Tax, arguing, “On the EU side, a technically challenging proposal has been wrapped in almost spiritual clothing…But it is in reality a cynical raid on UK financial services – or, more likely, the consumers of them – to fund the EU budget. A perverse Robin Hood tax levied on the people of Nottingham to pay King John.”