Tag archive for ‘Tobin tax’
Reforming Finance
Ten areas of financial reform are regarded as being essential to re-establish the two basic functions of the banking sector, namely, extending credit to households and the business sector, and connecting investors to entrepreneurs. Pure trading and speculating should, meanwhile, be discouraged to the maximum degree possible. The project of seriously re-regulating the financial sector [...]
European Social Democrats push for Citizens Initiative on Financial Transaction Tax
The German SPD and Austrian SPOE announced yesterday that they intend to use the new Citizens Initiative instrument to campaign for a Europe-wide financial transaction tax if the predominantly conservative EU governments do not introduce such a levy until the autumn. SPD Chairman Sigmar Gabriel and the Austrian Chancellor Werner Faymann announced that they would [...]
Support the Robin Hood Tax!
Today the Campaign for a 0.05% Tobin tax was launched by a series of NGOs under the label “Robin Hood Tax”. Here is what they are about: The Robin Hood Tax campaign is a movement bringing together dozens of organisations that work to reduce poverty in the UK and overseas, and campaign to tackle climate [...]
The EU must act on a Tobin Tax
Have Gordon Brown, Nicholas Sarkozy, Angela Merkel and other EU leaders dropped their support for a Tobin tax, or will they press home the idea in the near future? This question is crucial, particularly now that there are widespread plans for ‘budget cuts’ amongst EU member states, including possible rises in VAT in the UK. [...]
UK’s Labour Government to Push for a Windfall Tax on Banks
The BBC’s Business Editor Robert Peston has announced on his blog that the UK Treasury plans a windfall tax on banks, most likely to be announced next Wednesday in the Pre-Budget Report. Even though the details are not decided yet the reasoning for the one-off tax, that is likely to target bonus payments, is clear: [...]
Timing is NOT everything – Exit Strategies must also be credible and above all just
The battle-lines are already drawn up over when to begin withdrawing the stimulus measures that appear, for the moment, to have averted the widely feared global economic meltdown: on the one hand the inflation and deficit hawks who cannot wait for monetary policy to return to normal, and for fiscal policy to reign in the [...]
German Social Democrats call for Tobin Tax
The German social democrats announced yesterday that they are backing a global Tobin tax: “According to a report in the Sueddeutsche Zeitung newspaper, the SPD is proposing a modest tax rate of 0.05 percent on financial transactions based on the principle that the parties responsible for the global economic quagmire are also liable for the [...]
Adding to Lord Turner – More Reasons for a Tobin Tax
The FSA Chairman Lord Turner has fuelled the debate about how to deal with the City of London and its financial services industry in an interview with Prospect Magazine. City figures and London mayor Boris Johnson are hitting back. One of the ideas Turner floated is a Tobin tax on financial transactions. I thought it [...]
