Ordinary people are ignored

Sir, – Some time ago the EU floated the idea of levying a tax of 0.05% on all financial transactions passing through its stock exchanges.

It is not a large sum of itself but the money raised would be in the region of billions of euros, which would be enough to eliminate world poverty.

The sole opposition came from the UK, in its role as protector of the interests of the City of London.

At the same time, a certain Nigel Farage came into the public eye as the champion of Ukip.

He made his fortune as a stockbroker in the paper economy.

Further back in time, it was Margaret Thatcher who promoted the activities of the City and presided over the demise of Britain’s manufacturing industries, leading to an over-dependence on the provision of financial services.

Step forward to the post-referendum period and the current fiasco of trying to secure what I would term a have-your-cake-and-eat-it deal.

I believe this is unlikely to live up to the hype being put forward by the Brexiteers.

Enter Chancellor Philip Hammond to make it quite clear that it would not be in anybody’s interests to attempt to interfere with the activities of the City of London in arriving at an exit trade deal.

What he can’t say, however, is that it would not be good for those who make their fortunes from stock exchange manipulation, while the rest of us don’t count. Allan A MacDougall. 37 Forth Park, Bridge of Allan, Stirling.