Resisting an EU tax on financial services
The prospect of taxes being levied directly by the European Union is one of those stories that pops up on a fairly regular basis. It is never likely to actually happen as national governments won’t want to cede the power of the purse strings. But the great Hamish McRae makes a very good point about the taxes that the EU wants to levy in his Independent column: ‘The two areas the EU wants to put taxes on, banking and air traffic, would hit the UK particularly hard. Financial services are the UK’s largest export industry, with net exports (ie exports minus imports) of £33bn last year, more if you add