FINANCIAL TRANSACTION TAX (No. 3)

That this House notes that the European Commission is desperate to save the Euro and is proposing a tax on financial transactions that would raise 50 billion a year; further notes that 40 billion of this would come from the UK and that this equates to 642 for every man, woman and child in the country; believes that this tax represents a significant financial assault on Britain; further believes that it is vital to the UK that this tax is not brought in; resolves to continue fighting this punitive tax; and requests that the whole country refer to this as the British Tax rather than the Tobin Tax in order to make clear who really pays the bill.