Sunday, November 8, 2009

A world money tax

This is worrying, now there are moves to an international financial transaction tax.:
Mr Brown told G20 finance ministers meeting in Scotland that "a global financial transactions levy" would be one way "to reflect the global responsibilities of financial institutions to society."

Although the British Prime Minister warned of the need to avoid "prohibitive costs" on the banking sector, he said: "I do not think these difficulties should prevent us from considering with urgency the legitimate issues."

Mr Brown stressed Britain would not act alone on the so-called Tobin Tax, saying it would also have to be implemented by all the world's major financial centers, including the US, Europe, Asia, the Middle East and Switzerland.

Fortunately  it would require the co-operation of the world's major money centers, something I would think is unlikely. Any country not participating in the tax grab would see a capital pour in.

Update: How we are moving towards a World Government. 

No comments:

Post a Comment