Election 2010: Banking levy polarises party leaders in final TV debate

Laura Miller
clock

Gordon Brown, David Cameron and Nick Clegg are heading in different directions over the timetable and rate of a levy on Britain's banks.

In the last of three live Prime Ministerial debates ahead of the General Election on 6 May, this time on the economy, Lib Dem leader Clegg launched a scathing attack on "irresponsible" banks and repeated his calls for a 10% tax on their profits, effective immediately. The Tory's Cameron agreed with Clegg on the timing of the tax, but, in a familiar move since announcing his support for a levy a month ago, shied away from putting a figure on the premium. Brown was the most cautious on banking reform, arguing against the UK imposing a unilateral levy straight away, saying he wanted to w...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

More work needed to tackle inflation as BoE members warn of further market turmoil

More work needed to tackle inflation as BoE members warn of further market turmoil

BoE MPC members spoke at Treasury Committee hearing

Sorin Dojan
clock 06 March 2025 • 2 min read
Trump's presidency and tariffs: Advice industry shares views

Trump's presidency and tariffs: Advice industry shares views

‘Stark raving mad’ but ‘great’ for US firms

Isabel Baxter
clock 18 February 2025 • 4 min read
Five-fold surge in advisers buying gilts for clients in 2024

Five-fold surge in advisers buying gilts for clients in 2024

AJ Bell finds 436% increase in gilt purchases on its Investcentre

Isabel Baxter
clock 10 February 2025 • 1 min read