Thursday, 22 April 2010

On bank taxes

Tim Worstall in support of a bank deposit insurance tax:

If this is passed on to consumers, well, who cares? The consumers are getting something of value from it: deposit insurance.

That's the main point I think, and the best reason for someone like myself to support it. As long as the revenue is ringfenced as deposit insurance, that is.

Which then brings up questions of whether this can be optional, whether banks opt-in or consumers opt-in (or opt-out), and it all gets rather complex.

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