Hedge fund supports Tobin Tax

A MAJOR HEDGE FUND chief has given his backing for a financial transaction, or Tobin, tax.

Winton Capital chief executive David Harding said he was not opposed to a small tax on financial transactions, if used to fund better international regulation of markets, reported the Financial Times.

He believes banks and exchanges would feel a Tobin Tax the most, while hedge funds would be affected to a lesser extent. Harding also said he was “surprised” at the amount of effort that the Treasury and Financial Services Authority put into lobbying on behalf of the financial services industry.

Related reading

Life Belt with Computer Folders