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Cake day: June 22nd, 2023

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  • This is a great post but I would say that there were some people who were absolutely dedicated to achieving Brexit and in large part their participation can be explained by the proposed financial transaction tax.

    The idea that a supra-national entity might be able to impose a tax that could be difficult to mitigate was absolutely intolerable to various millionaires and billionaires e.g. The Telegraph owning Barclay Brothers. Any downsides from the resulting chaos, which in any case would only affect the working and lower middle classes, would be more than offset by the ability to bank offshore and retain their profits untaxed.