LINKS ~ TOBIN TAX - FINANCE TAX 2011/02/01
French G20 Presidency to go for a very tiny Tobin Tax
In an interview in La Tribune yesterday, French Minister of Finance Christine Lagarde confirmed that the introduction Financial Transaction Tax was on the agenda of the G20 this year.
Earlier in January, President Sarkozy had already declared he would support a global currency tax for development. We need 100 billion dollars to meet out commitments to fund development, Lagarde said.
Within the G20 countries, The US and the UK have strongly opposed the idea of a financial transaction tax, and other G20,apart from the France and Germany, have also proved very reluctant to introduce such a global tax.
