United Nations

French minister, UK regulator back Tobin tax

The French foreign minister and the UK finance regulator have both recently supported the idea of a Tobin tax, i.e. a tax on financial transactions. The objectives would be both to collect money to finance international aid, and also to curb and monitor international financial transactions.
European Union leaders could not agree to put it on the agenda of this week's G20 summit on reforming the financial system in Pittsburgh, but the leaders of France, Germany and the European Commission endorsed the concept.


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