Tuesday, 1 September 2009

On Tobin tax on finance

Turner says "We will do it"


Tobin tax explained


Tobin himself disowned activists’ adoption of his proposal for revenue-raising purposes, which he thought missed the point of the proposal: which was to reduce the socially harmful effects of finance while keeping its benefits. In this respect, FSA chairman Adair Turner’s broaching of the Tobin Tax as a method for regulating the financial sector may be more in line with the original idea.


Luckily, Alistair says "no". Aides to Alistair Darling, chancellor, said no such taxes were under consideration. Mr Darling insists that the banking industry in London should continue to play a leading role in global finance. => yes, quite good ambition.

Some more discussion: not good enough


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