Hedge fund supports Tobin Tax
Witon Capital boss gives backing for a "small" financial transaction 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.