Bank shares rally as new bank tax is less onerous than feared

The Gorilla in the room.

It woz the Banks wot done it. They are responsible for our deficit. Not the Labour party, nor the NHS, nor the Unions, nor the Taliban. If the bankers hadn't been so greedy and behaved so recklessly, we would not have this financial black hole.

Why is it then, that this is having to be paid back by Joe Public, through increases in Vat, reductions in child benefit, public sector pay freezes etc..?

Why is nobody making the case against the banks, who should be at the forefront of the remedy needed to deal with their 170bn gambling debt?

The puny 'bank levy', raising a measly 2 billion, will anyway be offset by a reduction in Corporation Tax! So it's same old same old, whopping bonuses guaranteed by the taxpayer if they mess up again, which they will do.

It's a Con trick. Make the Gorilla pay.

No

it wasnt the banks-

The Glass Stegal Act removed the partition between Investment banks and retail banks-All legislators sat back as the house price and Asset boom fuelled massive tax revenues for all GOVERNMENTS.

Property values and Asset values increased in a classic frenzied boom as a result of Governments ignoring History.

Gordon Brown happened to believe it was real.George Osborne recognizes it for what it is-A fake period of unsustainable growth.

We have a canoe with a hole in it, better to patch it than believe we can simply increase the speed at which we bale out the water until it sinks.

The tax revenues (20bn acc. to NAO) over the last 10 years are small beer compared with the size of the hole in the canoe made in 2008.

My 9 year old does not assume that she can she can do anything she likes, just so long as there is no preventative legislation in place.

This was the banks; they have had our money and they should fill the hole in the canoe.

Guy you just do not have a clue. This was started by GB who grew the economy on public sector miss-spending and house prices rising. He had excessive light touch regulation from an organisation that was brainless.

What money do the banks have by the way? They pay the BOE for the money they need short-term and they the BOE are making record profits!

The Banks will be sold off and we will make money in time.

This started by investors fleeing the market and realising before any politician (who are anal) that we were in an unsustainable position. The economy cannot grow from public spending and house prices (remortgaging) for long. It needs real growth, real exports. In every month the Labour government run this country we did not have one month that exports were higher than imports. These are the problems facing the country and the budget is a start. In an ideal world 10% of the public sector would lose their jobs because they are unaffordable. The country was run by socialists and Greece would have been the out-come.

This is the first budget in decades that actually puts business and long-term growth first over people who spend for the sake of it.

GB caused this and should be shot.

This is a smart move - not blood sucking - 2 billion and rising over the next 2 years is a significant amount.

More importantly the sooner the Government sell their stakes in the banks the better for UK plc, as these are expected to bring in about £70 billion it will take the heat off government funding and interest rates.

I am sure if they could get out of these with a small profit or even over the next 3 years they would bite your hand off.

Ends.

The Banks played their part, only because they were allowed to. Like the spoilt brat who is allowed to run riot because of the indulgent parent who doesn't want the effort of controlling the brat, and reaping benefit from the fruit that the brat stole from neighbours.

The parent (Bliar/Mugabruin Govts) is largely to blame, indulging the kids with sweeties, and borrowing endlessly to keep the brats supplied with sweeties, whilst ignoring those that were working hard to earn their sweeties.

The lawmakers who allowed this are unfit to be parents and should have their children removed because they are teaching them the wrong lessons.

Unfortunately, those who did their bit are now being made to pay for the sweeties for the brats, and the brats are the ones squealing because their diet has been, and will be further, reduced as we are now in straightened times. Instead of sweeties, they need to be on a bread and water diet and for them to earn a better diet.

As for those that allowed it, their pay/pensions need to be docked for the cost of what they misguidedly (criminally so) allowed.

We also need to remember the part played by the borrowers whose eyes were larger than what they could afford to pay back, they too played their part. Question, was Roger one of them?

Did he borrow more than necessary, because he was allowed to? Where is his fault in all this?

Now for the greed of the bankers on pay, and they have been and are still greedy. They are also brats in a sweet factory, hoicking out sweets to gorge themselves on and have a stash. Not earned.

They need to be modest, decent pay for decent work, and unless they really,really earn a bonus, none, and only if there is a profit from the remainder of the factory can they earn a modest bonus. Not you have done well and although others haven't been pulling their weight, here a truckload of sweeties. No, the owners should not have to suffer unless the individuals work has be exceptional and extraordinary, but then limited. But for the owners money, they would not have had the ability to earn, and the owners and customers should not have to suffer the greed.