Close
Enter your search into one or more of the boxes below:
You can refine your search by selecting from any of the options below:
Search
Your Shopping Basket
Total number of items: 0
Sub total: £0.00
Go to Checkout
Our Birmingham Shop
Our Bristol Shop
Animators Survival Kit

George Osborne increases bank levy for 2011

8th February 2011

The government has increased the rate of the bank levy to be applied this year, in a bid to raise more money for public coffers.

Chancellor George Osborne said that the tax will be increased from its current level of 0.05 per cent from March 1st, to sit at 0.1 cent for two months before being established at 0.075 per cent for the rest of the year.

The Treasury explained that the rate will be higher for two months to make up for the revenue lost during January and February, when the levy sat at its original level.

It is believed that the move will allow the government to raise an additional GBP 800 million in revenue, taking the levy's total return for 2011 to GBP 2.5 billion.

The levy was originally set at the reduced rate of 0.05 per cent this year due to uncertain market conditions when the decision was made but the coalition has decided these have since improved.

Commenting on the news, shadow chancellor Ed Balls welcomed the decision to raise more money from the banking industry but claimed more could be done, such as another tax on bonuses.
 

Latest Blog
From Page to Stage - Adapting The Hunting of the Snark
24/07/2017

Garry McQuinn, Producer of The Hunting of the Snark, which opens this week at London's Vaudeville Theatre, describes the journey from page to stage.

#FoylesFive: Celebrating Beer
23/07/2017

Earlier this year, Belgian beer culture finally officially took its rightful place on the World's Intangible Cultural Heritage list, where it now sits in good company with the likes of the French gastronomic meal, Cuban rumba and Spanish flamenco. To celebrate, here is a far from exhaustive selection of some of the beer literature that can help you better appreciate the delicate arts of brewing and drinking beer.

#FoylesFave: Dunkirk
21/07/2017

This month history buffs and film fans are united as they eagerly await Christopher Nolan's portrayal of Dunkirk. Madga from our Birmingham branch reviews the accompanying book.

View all Blog Entries
Twitter
Show/Hide Tweets
© W&G Foyle Ltd