I must must challenge your support for the "Robinhood Tax" for the following reasons. This tax will not steal from the rich,and it will not be the banks who foot this tax bill but savers, charities and pensioners (who have already been hit hard for the past 5yrs). Tax revenues may even fall not rise as trade will move elsewhere if such a tax is introduced. Yes banks will be charged the tax, but they will, as they have always done in the past, just pass on this tax to the end user i.e. with reduced returns on pensions and higher fees to do business. A similar tax was applied in Sweden in 1984, which resulted in 60% of the trading volume of the 11 most actively traded stocks migrating to London, this can only have a negative impact on London, which will hits UK jobs even harder. I ask you to retink your position with regard to supporting this tax.
R M. Groves.
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