by René Lavanchy
A “Robin Hood tax” on financial transactions would raise billions of pounds that could be spent on tackling child poverty and international aid projects, according to a campaign launched by unions and charities this week.
The TUC, Oxfam and ActionAid are among those writing to Gordon Brown, David Cameron and Nick Clegg demanding a “Tobin tax” on money traded between banks in their election manifestos. A 0.05 per cent tax could raise £250 billion a year globally, they say.
City trader Alastair Constance, who backs the campaign, said the tax was “absolutely practical and will hardly be noticed by those paying it”.
The only place you can read all of Tribune's articles as soon as they are published is in the magazine. To find out more about subscribing from as little as £19, click here.
