IMF gets behind the possibility of a Robin Hood Tax

An interesting blog has come up on Touchstone Blog saying that the IMF has admitted that the Robin Hood Tax is a possibility. The article is well worth a read.

The paper, a draft of which was leaked a month ago, admits that an FTT is possible, lists the 16 G20 countries who already have one in a limited form, and admits that the more transactions it covers the more effective it will be.

This is a good step on the path towards an equitable global financial sector. The IMF has been, and still remains, sceptical of a financial transactions tax, but the findings of this report point out that such a tax could be a positive step forward.

Of particular interest is the fact that the more transactions it covers, the more effective a Robin Hood Tax would be. This should be seen by political leaders around the world to think seriously about wide ranging incorporation of a financial transaction.

By Tim Nicholls