The government should declare victory on the policy objectives of the bank levy and now allow bank levy revenues to ‘free float’, writes Richard Milnes.
I told my three children that for every day they didn’t keep their rooms tidy I would take 11.9p out of their pocket money. Maximum untidiness would give me £2.50 a week. They responded to the incentive: they tidied their rooms four days a week. But I still quite fancied the £2.50 so I changed the rules to take 27.8p out of their pocket money for each untidy day. My children hate me and want to leave home.
At the birth of the bank levy on 1 January 2011 financial secretary to the...
