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Brown urges business leaders to accept Tobin tax

Posted on November 23, 2009 at 11:33 in EU Economy, Forex, US Economy, World Economy by Francesc

Brown urges business leaders to accept Tobin tax
• Levy on City trading aimed at restoring trust in banks
• Survey shows more than 50% of voters back planv
The Guardian
Gordon Brown will take his radical proposal to tax City trading to Britain’s business leaders today, as a survey shows that more than half of voters would back the plan, if the proceeds went to help the poorest in society.
Speaking at the CBI’s annual conference in London, Brown will press for a global levy on financial transactions as one way of restoring the “contract of trust” between banks and the rest of society.
The prime minister’s renewed commitment to the controversial levy, also known as a Tobin tax, comes as a survey carried out for Oxfam by pollsters YouGov and obtained exclusively by the Guardian, shows 53% of voters are in favour of the idea, with just 28% against. Even among Conservative voters, 43% back a transaction tax, compared to 39% against.
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