I don’t think Mary Whittaker fully appreciates the scale of the Government’s overspending (Oxford Mail letters, April 21).

Even if the Government took all of every bank’s profits this year by way of tax – it would only cover about 10 per cent of the Government’s more than £160bn overspend for 2010 alone.

And, if large taxes were levied, guess what would happen next? Yep, the price of loans and mortgages would rise – and the interest on savings would fall. So, in the end, it would be you and I paying anyway.

In addition, if this country levied the taxes unilaterally, there would be nothing stopping banks (and other companies if taxed further) moving some of their operations overseas, leading to job losses.

PAUL WILSON, Kennedy Close, Oxford