If, as your business editor suggests, the Square Mile "is responsible for around £72bn in taxes each year", rather than forgetting the role played by the City in the financial chaos of 2008-9, and the huge debt banks owe to British taxpayers after their bailout, shouldn`t the relevant "taxing question" be - how much more profit can the banks hope to make out of the British people? (A taxing question, 11/10/18) Why can`t banks offer mortgages to first time buyers that won`t cripple them financially for years to come rather than having interest rates which guarantee obscene bonuses and massive profits. What happened to the billions given to banks through quantitative easing which was meant to be re-invested in British businesses? Then there`s the small matter of tax evasion, offshore accounts, money laundering, and advice given by financial institutions on tax avoidance! "Star status"?
Isn`t it the truth that the City, in fact, should be contributing far more than "11 per cent of total GDP"?
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