Yesterday I asked whether the left hand knows what the right hand is doing.. well here’s some more jiggery pokery from the same idiots in Brussels.
Syed Kamall, Conservative MEP for London, said: “The EU parliament’s vote in favour of a transaction tax is particularly disappointing given that they did not even wait for the European Commission’s initial impact assessment before making their decision.
Yup, the EU Parliament have jumped the gun again in looking for ways to cream off more of your money and get a direct taxation system going.
In a bid to boost Brussels’ budget by five per cent, the EU Parliament has voted to slap a Tobin, or so-called “Robin Hood” tax, on all financial transactions. The tax would levy a 0.05 per cent fee on the total value of “every type of financial transaction” that goes through any institution in Europe, pushing up the cost of economic activity at a time when the region is struggling to stage a convincing recovery.
And as Syed Kamall says “Unilaterally imposing the tax would send financial activity to lower cost destinations outside the EU and damage London’s attractiveness as a financial centre, and banks would simply pass on the costs of the tax to their customers, hitting savers and investors.” (source)
the EUs Left hand and right hand…both around your throat..and gripping ever tighter.