[youngian]

Peter Tatchell is doubling down on McDonnell. He's going to raise a trillion. Or £1000 bn as he calls it as if it sounds any less scary. Its like a cross between Le Pen and Kevin Pork. I agree with him about the financial transaction tax but it must be the worst timing ever to put that one out there. Peter's one of the good guys but he should stick to winding up Mugabe. Especially as he might poach him for chancellor.

[youtube]mFg8EEbSj5A[/youtube]

[Tubby Isaacs]

I've never got this transaction tax debate. Isn't there already stamp duty on financial transactions?

[youngian]

I've never got this transaction tax debate. Isn't there already stamp duty on financial transactions?

I had it explained to me by the charisma-free zone that is Rachel Reeves no less. I can't remember the difference or be bothered to find out. A Labour MEP Peter Skinner told me on a tour that there was no practical difference. But he's not too good with his figures http://www.telegraph.co.uk/news/2016/04 ... ars-after/" onclick="window.open(this.href);return false;

[Tubby Isaacs]

Ha ha.

Jez will probably start campaigning on it now. Could hlp fill in a gap where "close tax loopholes" currently stands.

[Abernathy]

Is this just The Tobin Tax ?

[youngian]

Yes although Angela Merkel wanted to an EU-wide stamp duty to avoid a British veto. I think Brown wasted political capital opposing it as well. But now we have a country back the government is in no position to shake down the City further.

[Tubby Isaacs]

http://citywire.co.uk/money/government- ... ls/a973346" onclick="window.open(this.href);return false;

The government is to review the levying of stamp duty on share transactions.

From November.

Nicely set up for a tax cut to the City.