failed and i confirm that the next we will publish a response to the report we commissioned from john dickenso protect taxpayers better. it is this government's policy to ensure we remain the home of global banks. london is the world's preeminent financial center. that is why we will not agree to the introduction of an e you financial transaction. it is not a tax for bankers but attacks on people's pension. instead we introduced a permanent bank levee to make sure the banks pay their fair share. i have always said we wish to raise 2.5 billion pounds each and every year for this levy to insure we do that. i need to raise the rate of a levee to 0.088%. this will be effective from the first of january next year and we will also take action to stop large firms using complex asset backed for a pension fund there arrangements that claim double the tax relief that was intended. this will save the exchequer half a billion pounds a year. mr. speaker, financial services will always be an important industry to the u.k.. but we have to help the private sector and other parts of the country grow. that mea