‘Robin Hood’ tax plan floated
Tax on speculative financial transactions proposed
As controversy rages over the alleged role of bankers’ greed in causing an economic downturn, a large range of campaigning and faith-based groups are calling for a ‘Robin Hood Tax’ to take from the richest and give to the rest. They say that their scheme would raise £250 billion each year ‘to support public services, fight poverty, and combat climate change’. This would be raised by a tax of 0.05 per cent on speculative banking transactions – taking tax of only 50p on every £1,000.
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