A bank tax will not stop the way banks take risks and speculate using cheap Government money.
Why not simply make losses (and the costs associated with these losses)for certain high risk banking activities not tax deductible. This will make banks think twice when they enter into high risk deals (and for those who speculate their effective tax charge will rise).
And also rebalance the distribution of earnings more fairly between shareholders and bankers' bonuses.
For my detailed proposals please click here
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