Liebrary: Financial Services corporation tax makes a major contribution to overall UK tax

Financial services companies and their bag-carriers warn of dire consequences if they were regulated and taxed more. They threaten to leave the UK, and move to more accommodating countries, and take all their corporation tax with them.


Reality: Financial services corporation tax only contributes 2% of UK tax revenues.

Corporation tax contributes less than 10% of tax revenues. 

The Financial Sector, the greatest of the rippers-off of us Britons from cradle to grave, is lionised for paying 20% of all corporation tax. But 20% of 10% is a measly 2% of all tax revenues.