Wednesday, 21 October 2009

Letter to The Times on a windfall tax on the banks (NOT PUBLISHED)

The Editor
The Times


To propose a windfall tax on the banking sector would not, as you suggest (Leading article, 20/10/09), expose other sectors to such a measure for the simple reason that it is highly improbable that other sectors would or could have inflicted such terrible economic damage on wider society. To expect that after such unprecedented taxpayer-funded largess, the culprits in this sorry tale ought to be required to contribute an additional sum to rebuilding the public finances is not punitive, it is just. It might also go some way to restoring a sense of moral hazard in the minds of our bankers as they divvy up their huge bonuses this Christmas.

Yours faithfully,

John Slinger

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