Sarkozy demands a Tobin Tax

Posted on January 25 2011

The French President Nicolas Sarkozy opened his presidency of the G20 group of nations yesterday by calling for a $100bn (£62bn) tax on banks. The so-called "Tobin tax" on transactions has been championed by organisations such as Oxfam and the TUC, but the financial services industry vehemently opposes it.

The finance industry vehemently opposes a lot of things they’re going to have to come to terms with. And I suspect a transaction tax is one of them.

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One Response

Miles says:

January 31 2011 at 2:39 pm

Hi Richard

We wrote quite a nice article about this here: http://www.investmentandbusinessnews.co.uk/banking/sarkozy-calls-for-tobin-tax/12391

Please have a read – we would love to have your feed back.

kind regards

Miles