City Outrage Over 'Crackers' Tax Plan ; Mayor Boris Leads Attack On Finance Watchdog

Daily MailAugust 28, 2009

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Summary


PLANS to impose fresh taxes on every financial transaction in the City sent shockwaves through the sector yesterday.

A call for a levy on the 'swollen' banking industry by the head of the Financial Services Authority, Lord Turner, was dismissed as 'crackers'.

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City Outrage Over 'Crackers' Tax Plan ; Mayor Boris Leads Attack On Finance Watchdog

The Treasury immediately sought to distance itself from the proposal and opposition politicians said it would 'unworkable'.

The FSA chief surprised ministers and the City by saying he was prepared to consider...

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