TaxCorporate TaxHedge fund supports Tobin Tax

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.

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