Sunday, February 14, 2010

Robin Hood Tax

Better late than never but I will now join on the band wagon and post the excellent Richard Curtis “YouTube” video staring Bill Nighy. Now the idea that a tiny, tiny 0.05% tax paid on certain big money financial transitions could raise £100 billion plus of revenue to “fight poverty, protect public services and tackle climate change” is deeply attractive to all progressives. I would support such an idea unconditionally for this reason alone.

However, the idea has also been supported as a means of discouraging damaging short term speculation and encouraging long term capital investment (Tobin Tax). Which may actually be even more socially progressive than anything even 0.05% Robin and his merry men delivers.

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