How does £140m pay for only 50,000 extra free school meals? Assuming a 189-day school year, and a 60p-per-meal cost (as per the Jamie Oliver plan), it should cover about 1.2 million children.

Looked at the other way, 50,000 extra meals should cost an additional £5.7m on top of what we’re already spending.

It looks as though £140m must refer to the new *total* spend, not the additional funding in the PBR.

Apart from the fact that it is particularly regressive, targetting a part of the economy which has paid for a huge % of the government spending over the last decade, and also aside from the fact that most banks will simply avoid it, there is another flaw in the plan.

If you take the example that RBS were going to pay 1.5bn out in obnuesses this year. Tax that at somewhere between 40-50% and you *already* have exceeded the amount this windfall tax is meant to reap. Add in other banks, and this tax is doing damage to the UK’s balance revenues and balance sheet.

A clear example of cutting one’s nose off inspite of one’s face…and of naked politiking. Surely I thought Labour were supposed to be governing in the best interests of the country.