Switzerland

Nice to know, isn’t it, that public attitudes are finally catching up with MPs’? It seems, from the Social Attitudes survey, that finally, half a century after parliament suspended the death penalty, 48 per cent of people no longer want the death penalty reintroduced. Opinion has been stubbornly in favour of it ever since 1965, and that was also true in 1998 when the Human Rights Act forbade capital punishment outright. In other words, until now, MPs have been wildly at odds with the opinion of most voters on an undeniably important issue. I’m unsure exactly where I stand on the issue myself, though I’ve always felt the guillotine would have been my own choice of method if it came to it.

Stephen Green — the former trade minister Lord Green of Hurstpier-point, who became this week’s political punchbag— was always a rather Olympian, out-of-the-ordinary figure at HSBC. This was a bank that traditionally drew its top men from a corps of tough, non-intellectual, front-line overseas bankers typified by the chairmen before Green, Sir John Bond and Sir Willie Purves. As the dominant bank in Hong Kong and a market leader throughout Asia and the Middle East, it was habituated to dealing with customers who took big risks, hoarded cash when they had it, and did not necessarily regard paying tax as a civic duty.

Even in Switzerland, the elites are sold on the European Union, though it remains outside. It has a virtually irresistible draw in all European countries for the people that Mr Gladstone disparaged as ‘the Upper Ten Thousand’ (who today probably add up to the Upper One Million). As a result, Switzerland is gradually allowing its exceptionalism — in tax and banking, for example — to be eroded. On the other hand, the Swiss people are stoutly sceptical and have become more so. In February, they voted for a referendum limiting the free movement of EU citizens into their country, and so their EU relationship is now in flux. In this remarkable country, only 5 per cent know the name of their president.

Even the cheapest, Poundland crystal ball will tell even a blind observer that Europe is pretty soon going to be a pretty hefty problem for almost all of Britain's political parties. Almost all, I say, because that includes the SNP* whose europhilia is, in some respects, a product of a time that no longer exists. Anyway, the odds of manifesto pledges promising an in-or-out referendum in the next parliament seem to be shortening all the time. I have no idea what this is supposed to achieve since, as best I understand the matter, neither the Conservative nor Labour parties wish Britain to leave the European Union. Asking the question necessarily increases the chances of receiving an answer you do not think sensible or in the national interest.

As the isolation hysteria over Cameron’s EU veto starts to fade, attention is now shifting to the more existential question of what kind of relationship the UK should have with Europe. In a piece for today's Times (£), the chairman of Business for New Europe, Roland Rudd — who, incidentally, used to argue passionately in favour of the UK joining the euro — takes aim at those who want Britain to replicate a Norway-style model of European cooperation. Arguing that Norway endures so-called ‘fax machine diplomacy’ — no influence over EU laws that it must nonetheless accept — Rudd says that ‘the choice now is to do what Norway does, or remain in the EU.

First came the Germans and then came the Brits. The UK Treasury has secured an agreement with authorities in Zurich to tax the assets of UK citizens held in Swiss banks to reduce on tax avoidance and stamp out evasion. The deal will follow the lines of that which Switzerland made with Germany last month. The FT has details: 'Taxes on future income will be withheld at a rate of 48 per cent, corresponding to the top 50 per cent rate that now applies to Britain’s highest earners. A one-off levy of between 19 and 34 per cent will be applied to all Swiss accounts held by UK residents, with the exact percentage to be determined by the size of the deposit and how long it has been maintained.