Osborne takes on the Tobin tax

The Chancellor has intervened in the financial transaction tax row, challenging the proposal in court. Hannah Brenton analyses

clock •

The UK launched a legal challenge to the European Commission's proposed financial transactions tax (FTT), lodging an appeal at the European Court of Justice two weeks ago. Chancellor George Osborne has labelled it a tax on "pensioners and people with savings and investments", which fails to hit its intended target: the banks.

Luxembourg has pledged its support for the bid, while the United States has also raised concerns. The move has been met with support within the UK. BDO partner Angela Foyle says the FTT has "ten...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

Author spotlight

Hannah Brenton

View profile
More from Hannah Brenton

TPR to consider regulating DC administrators

TPR goes back to the future

More on Investment

Border to Coast makes £70m foray into single-family housing
Investment

Border to Coast makes £70m foray into single-family housing

‘Landmark’ deal sees LGPS pool fund 139 homes at Springstead Village in Cambridge

Jonathan Stapleton
Jonathan Stapleton
clock 09 February 2026 • 2 min read
Partner Insight: Democracy and the rule of law is the defining ESG issue of the year
Investment

Partner Insight: Democracy and the rule of law is the defining ESG issue of the year

For the past several years, climate has dominated ESG agendas. Rightly so in our view, given that its physical and transition risks are reshaping portfolios and policy alike. But in 2026, one issue has returned to the forefront with unmistakable urgency:...

Ashley Hamilton Claxton, Head of Responsible Investment at Royal London Asset Management
clock 09 February 2026 • 2 min read
Inflation has 'clear but inconsistent' impact on all asset classes
Investment

Inflation has 'clear but inconsistent' impact on all asset classes

Aon report says investors will need diversified portfolios to protect against all types of inflationary shocks

Martin Richmond
Martin Richmond
clock 06 February 2026 • 3 min read
Trustpilot