Tobin Tax

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Conference
2010 National Delegate Conference
Date
8 February 2010
Decision
Carried as Amended

Conference applauds Gordon Brown’s statement of commitment last year to the principle of the Tobin Tax and notes the immediate reaction from Boris Johnson in defence of an independent and greedy City which illustrated the determination of so many Tories to defend unfettered access to unlimited unearned income from the financial markets.

The proposal to tax financial transactions of banks to specifically help poor people is overwhelmingly supported by the British public, according to a YouGov poll carried out for Oxfam late last year.

Conference instructs the National Executive Council to support the campaign for a Tobin Tax, called the Robin Hood Tax in the UK, which would help the poorest people in the developing world while only taxing the movement of money.