WhyBoilerWhy

International business is only of value to the UK if there is investment here. If the money simply flows in and then rapidly flows out to somewhere with even lower taxes (if there is anywhere) and more lax regulation how does anyone here (beyond a tiny minority) benefit? That is why a Tobin tax would not be harmful but helpful. By your logic Bermuda, Jersey etc must be places of unparalleled equality and social harmony. This is not the case. It seems to me that such places harbour enormous inequalities and the City is very much central to the growth of these inequalities which are not based on creating value. You might not agree with my views but they are constructed from listening and reading the works of some of the worlds most respected economists and financial journalists so I think "the economic illiterate" is a little wide of the mark.

There are so many figures that I could quote but we all know you can pick and choose your numbers. The actual 'cash' value of this exercise is enormous in isolation but how would you quantify the additional costs to society due to the damage that was done? Would you count the extra benefits due to unrelated individuals losing their jobs and homes? What is the cost to the UK if it's credit rating is downgraded? These are costs directly associated with the actions of a minority in the City.

There are plenty of figures from any number of sources (many of them right leaning) that support this view. Even a quick Google could demonstrate this. Do you believe that the cost to the UK of rescuing the banks was less than the national debt before the (most recent) crisis? I am interested to know if you can find any figures that could support that argument...

Yes. Force larger corporations (first) to pay the tax that they are legally obliged to pay, tighten up legislation regarding off shore tax havens and fortify HMRC rather than dismantling it. This is always the threat, "tax us and we'll leave". But the levy of a Robin (Tobin perhaps) Hood tax would have no real effect on investment, only the kind of financial gambling that caused the mess we are currently in. Vast sums have gone into investments in health and education in this country. Most people would acknowledge this though many argue that PFI was not the right way to go about it. The debt left by the previous govt. is small in comparison to that paid out by each of us to save the current deeply flawed financial system. I will also be marching as I am truly saddened that in order to move additional funds to the tiny minority who currently run the country, the most vulnerable and needy in residential care homes will have their disability benefit cut. This means that those with severe learning disabilities will no longer be able to get out and about.

I'll be attending the March for the Alternative on March 26th as I don't support the current government's plans for the NHS or the cuts that are being made to pay off our massive debts. Anyone else planning on joining this? http://marchforthealternative.org.uk/