Financial transaction tax an attack on the UK

Remember Agincourt? Remember Waterloo? Remember 1871? Remember 1918? Remember World War II?

The latest ‘Open Europe’ report, using the European Commission’s own rate of 0.1 per cent for bonds and 0.01 per cent for derivatives, shows that the cost of the financial transaction tax – the ‘Merkozy’ proposal to save the euro and stabilise the eurozone – would be between €24.3 and €80.9 billion.

Of this, the UK would bear between €17.5 and €58.2bn – or 73 per cent of the cost.

Despite not even being a member of the eurozone, Britain would be paying nearly 75 per cent of a tax imposed to save the euro.

It is very difficult not to see this as a direct attack on Britain’s economy, by our supposed ‘partners’.

Ever since 1973, when Britain joined the EU, Germany and France, instead of joining and co-operating with the City of London to become the powerhouse of the world, have deliberately conspired to undermine and destroy it. A great opportunity has been lost due to petty jealousy.

One has to ask, will petty chauvinism destroy the European dream?