Boris aide slams bank levy policy

first_img Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap whatsapp KCS-content A SENIOR economic adviser to London Mayor Boris Johnson has fired a shot across the bows of the Treasury, warning that too much banker bashing could put £20bn of tax revenue at risk.Writing exclusively in today’s City A.M., Anthony Browne says: “It is clear that banker bashing is not a joyful cost-free pastime. It has severe fiscal consequences.”In particular, he targets George Osborne’s bank levy, which the chancellor raised unexpectedly two weeks ago to extract more cash from banks. “The banking levy will affect the location of balance-sheet heavy global trading businesses,” says Browne. He points to a study by Oliver Wyman showing that £20bn of the tax receipts delivered to the Treasury by financial institutions last year came from highly mobile activities that could easily move abroad. Wednesday 23 February 2011 9:27 pm Share whatsapp Show Comments ▼ Boris aide slams bank levy policy Tags: NULLlast_img read more

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