Submitted on Friday 4th March 2016
Published on Wednesday 16th March 2016
Current status: Closed
Closed: Friday 16th September 2016
Signatures: 12
Introduce a Financial Transaction Tax, use revenue to help fight austerity cuts
A Financial Transaction Tax is designed to stabilise market volatility by acting as a disincentive to short term risky financial transactions, such as high frequency trading. These financial transactions were a leading cause of the global financial crisis. Impose an FTT to stabilise the economy.
The financial crisis caused massive socio-economic human rights violations through austerity measures. An FTT would promote less risky, long term investments which lead to a stronger and more stable economy that benefits all and not just the City. Use the generated tax revenue - European Commission estimate £8bn for the UK - to help fight back cuts to the public sector.
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