“The proposal – now in the hands of working groups – is to come into force in early 2014. It will raise a fee of 0.1pc for shares and bonds, and 0.01pc for derivatives. These rates are far higher than the Swedish tax in 1989 that led to an 85pc crash in bond sales, a 98pc fall in bond futures, and shut-down of options trading, before the experiment was abandoned. The Chancellor, George Osborne, said the FTT scheme would amount to a tax on pensioners and cost up to 1m jobs across the EU ‘without costing bankers a penny’. The traders would migrate to the US or Asia, taking the financial industry with them.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
U.S. drug czar: Marijuana is drug most often linked to crime
Coinbase Raises $25 Million From Andreessen Horowitz
Taiwan central bank 'keeping close tabs' on Bitcoin
U.S. Border Patrol Agent Executes Young Mexican Woman With Headshot
Millions missing after party-loving mayor went on the run
Secret U.S. documents reveal Al-Qaeda has anti-drone operation
Gallup Sued By DOJ After Unfavorable Obama Polls, Unemployment Numbers
U.S. seeks to speed up hearings for five 9/11 suspects
U.S. gives ‘full backing’ to Israel while urging de-escalation of Gaza violence
80 million with employer health plans could have coverage canceled
Latin American leaders urge review of U.S. pro-marijuana referenda
RBS has lost all the £46bn pumped in by the taxpayer
European Union gives Latvia final OK to join eurozone
The government's creepy obsession with your face
Home Depot Sending 20,000 Part-Timers to Health Exchanges