The Rowan Hood tax

Rowan Hood, Rowan Hood, going round the bend;
Rowan Hood, Rowan Hood, with his band of men persons.
Loathed by the bad, loathed by the good:
Rowan Hood. Misunderstood, Rowan Hood.

From here:

The Archbishop of Canterbury has repeated calls for a “Robin Hood” tax to be imposed on financial transactions as he spoke of the “acute” dangers of “paralysing” the voluntary sector through heavy public spending cuts.

Dr Rowan Williams said a tax of 0.05% on transactions in currency, stocks and derivatives between major financial institutions – and not High Street banks – could generate £20 billion a year for the UK.

The money would then be divided between domestic public services and international development projects, he said in a speech in London on the Big Society vision, first outlined by David Cameron.

“On its own, this idea might too easily be taken for another variety of ‘stateist’ problem-solving – but united to a coherent programme of capacity-building in local communities, here and worldwide … it still has the potential to deal effectively with the acute current dangers of paralysing the voluntary sector through heavy cuts in their public budgetary support,” he told an audience at King’s College.

 

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