Quote Originally Posted by Tiaexz View Post
It is to penalise the short-term transactions which is effectively money laundering by the super-rich and large corporations. The effect it has on Joe Bloggs is so minimal that you won't even notice it. If I remember the figures, the currency and share trading market is 7 times higher than Global GDP and it goes untaxed. It is a big ol' gravy train which the super-rich and large corporations enjoy.

0.1% tax on that is "nothing", it is only 0.1%. To put it bluntly.

Me and you have our £10 notes, 1p is taxed. We wouldn't even blink at it, probably think it fell down the sofa. Or even far more likely, we don't even touch this share market and won't even lose it.
Taxation is like trying to pluck a live goose you have to be sneaky or the goose catches on.

If Britain taxes trading the traders simply move to America - not only do we not get their trading taxes, we don't get their corporate or income taxes either. Look at what's happening in France.

Business is global - the trick is to offer competitive taxes, or competitive environments, so as to attract (or if you prefer dupe) businesses into setting up in your country and not elsewhere.