BusinessCompany NewsPrime minister shies away from Tobin tax

Prime minister shies away from Tobin tax

Gordon Brown steps back from financial services transaction tax

The prime minister has basked away from the possibility of introducing a
Tobin tax, despite current EU sentiment for a tax on financial services
transactions.

Gordon Brown told the City yesterday that the UK “could not act in a vacuum”
on introducing such a tax, and any revenues from such a tax should be for the
national government to use, reported the
FT.

Current thinking is that a levies on individual banks are a more attractive
option.

Further reading:

Concern
over EU “Tobin tax” plan

King
derails Tobin tax drive

Treasury
moots Tobin Tax on financial transactions

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