The United Kingdom, Germany and France will charge a new tax to the banks

George Osborne, British ministry of Economy, has just announced in the British parliament a deal that the United Kingdom, Germany, and France will establish from January of 2011 a tax tat will penalize banks operating in these three European countries.

With this measure, the British government hopes to obtain 2000 millions of pounds from the entities placed in the United Kingdom and local branches from stranger groups that operate in the country. France and Germany will confirm early if they take a similar measure, according Osborne.

This tax will be similar as the one that the government of Barack Obama announced the past year.

Will charge the assets of banks that aren’t covered neither by capital nor deposits from savers or long therm debt. In other words, will be a percentage on short therm financiation in the markets, considered more risky.

The most affected entities by this kind of tax will be the ones whose main activity is the investment banking.

Osborne considers that is “just” that banks pay this tax to contribute to the reduction of fiscal deficit, after causing the crisis of last years.

The announcement was made during the presentation of new budgets in the United Kingdom. Furthermore, Osborne said that the VAT will grow from 17.5% to 20% next year.

With these taxes and expenditure reduction, the united Kingdom expects to reduce almost all his public deficit between 2011 and 2016.

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