Clause 209 — The Bank Levy

Part of Diabetes Prevention (Soft Drinks) – in the House of Commons at 5:00 pm on 18 April 2012.

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Photo of Karen Bradley Karen Bradley Conservative, Staffordshire Moorlands 5:00, 18 April 2012

I was coming to exactly that point. It is, in fact, a revenue-raiser. We need to return to the question of how money can be raised from the banks, and if that is what we wish to do, I think that the bank levy is a better way of doing it.

In preparation for the debate, I rang various former colleagues and others involved in the financial services sector. I could not find anyone who would express the view that the bank levy was a terribly bad thing. They all accepted that the tax needed to be paid, and they thought that this was a reasonable way in which to pay it.