by Summary:
Financial sector is rattled by John McDonnell’s support for an FTT that would raise about £7bn a year When asked at an event last week if he would support a new plan that would raise an estimated £7bn a year for the exchequer, the shadow chancellor, John McDonnell, had a one-word answer: yes. The proposals were unchallengeable, he said. That’s not true, obviously. Labour’s plans for a financial transaction tax (FTT) were being challenged even as McDonnell spoke. The City has enormous lobbying power and the machine was quickly cranked into gear. The financial sector employs a million people, paid £75bn in tax last year and provides essential products such as pensions, mortgages and insurance, said Stephen Jones, the chief executive of UK Finance, the trade body for the financial
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Financial sector is rattled by John McDonnell’s support for an FTT that would raise about £7bn a year When asked at an event last week if he would support a new plan that would raise an estimated £7bn a year for the exchequer, the shadow chancellor, John McDonnell, had a one-word answer: yes. The proposals were unchallengeable, he said. That’s not true, obviously. Labour’s plans for a financial transaction tax (FTT) were being challenged even as McDonnell spoke. The City has enormous lobbying power and the machine was quickly cranked into gear. The financial sector employs a million people, paid £75bn in tax last year and provides essential products such as pensions, mortgages and insurance, said Stephen Jones, the chief executive of UK Finance, the trade body for the financial
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Matias Vernengo writes Elon Musk (& Vivek Ramaswamy) on hardship, because he knows so much about it
Lars Pålsson Syll writes Klas Eklunds ‘Vår ekonomi’ — lärobok med stora brister
New Economics Foundation writes We need more than a tax on the super rich to deliver climate and economic justice
Robert Vienneau writes Profits Not Explained By Merit, Increased Risk, Increased Ability To Compete, Etc.
Financial sector is rattled by John McDonnell’s support for an FTT that would raise about £7bn a year
When asked at an event last week if he would support a new plan that would raise an estimated £7bn a year for the exchequer, the shadow chancellor, John McDonnell, had a one-word answer: yes. The proposals were unchallengeable, he said.
That’s not true, obviously. Labour’s plans for a financial transaction tax (FTT) were being challenged even as McDonnell spoke. The City has enormous lobbying power and the machine was quickly cranked into gear. The financial sector employs a million people, paid £75bn in tax last year and provides essential products such as pensions, mortgages and insurance, said Stephen Jones, the chief executive of UK Finance, the trade body for the financial sector.
The Guardian