As the Independent notes:
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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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