As we reported previously the Banks & governments are joined at the hip-pocket.
The banks are in desperate need for assets onto their balance sheets. Enter the policy enforcers, aka governments.
In the UK, people are suddenly shocked that the government can simply just grab money out of your account without any court order or a right to object in advance.
Expect to see excessive taxation in the future. ~Ron
Taxman has power to raid your bank accounts
Commons Treasury committee raises concerns about powers of HMRC to remove cash from bank accounts without a court order
Innocent people face having money taken straight out of their bank accounts under draconian powers to be used by the taxman, MPs warn on Friday.
A Treasury plan to allow HM Revenue and Customs to remove cash from bank accounts without a court order is “very concerning” because of its history of mistakes, a Commons committee said.
In a consultation document this week, HMRC said the “direct recovery” powers could be used to take money from joint accounts.
The tax authorities admitted this week that about 17,000 people a year would be targeted under the new measures, set out in the Budget and designed for use against people who owe them money.
In a report on the Budget, the MPs also:
- Repeat concerns about the booming housing market and the Help to Buy scheme, hinting that the Bank of England should be ready to intervene soon
- Warn that enabling people to invest their pension pots as they wish raises the risk of financial services companies offering “defective” investments
Read More: telegraph.co.uk