Financial Transactions Tax (Robin Hood Tax)
The government should introduce a Financial Transactions Tax (popularly known as a Robin Hood tax) at a rate of up to 1% of all non-cash financial transactions, as an alternative to cutting spending on public services. This would raise huge amounts of revenue from those in the banking sectior who caused the financial mess the UK finds itself in, without harming the conditions of hard pressed families. Studies have shown that it would be fair, progressive and difficult to avoid paying, and could raise enough revenue to avoid cuts and replace regressive taxes like VAT
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