Wednesday, June 22, 2011

Financial Transaction Tax.


I promised ideas for solutions. Here is another step to making the economy work for people.

A Financial Transaction tax (FTT) imposed unilaterally by a single country would probably fail as speculators can shift to another jurisdiction.

If most countries impose one at the same rate it cannot be dodged.

The advantages are, that it captures and slows speculation in currency flows, which has been so damaging to most people. Including us. At the moment we pay for the failures of money traders with bailouts and Government spending cuts.

Don't forget that New Zealand's credit rating reflects the expectation that the Government would bail out private banking.

Join the campaign.  Financial-transaction-tax

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