Please turn on JavaScript. Media requires JavaScript to play. David Cameron: "I believe it is fair and it is necessary" Tory leader David Cameron has announced plans for a new tax on banks - even if other countries decide not to do so.Mr Cameron has dropped his condition that he would only introduce such a tax if other countries did. In a speech in London, he said the levy was "necessary" and the banks were one of the "vested interests" he was determined to confront. Labour favours such a tax but only with international agreement. Lib Dems say banks must pay for taxpayer protection. The Tories, who have not yet provided any details of how their scheme would operate, hope that by adopting a more limited measure if the UK acts alone they will avoid driving banks into exile. Speaking in Putney, south-west London, Mr Cameron said: "We had the biggest bank bail-out in the world. We can't just carry on as if nothing happened.[Read more...]