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Govt proposes new immigrant tax

The Government is set to introduce a new tax on immigrants in a bid to make them contribute to the rising cost of public services.

In a speech today Home Secretary Jacqui Smith is expected to say immigrants will have to pay a special levy when they enter the UK and people who are deemed more of a burden on the state, such as elderly people needing regular medical attention, will face a higher tax.

The Government expects to raise £15m a year from the move which was prompted by local councils warning the recent influx of immigrants was putting increasing strain on schools and hospitals.

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The Rock slide

I have always been in favour of different forms of ownership for financial services companies believing that it leads toa diverse and healthy market and choice for advisers and consumers. I would draw the line at a pattern of ownership that goes from building society, public limited companyand then publicly owned bank.

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