Submitted on Thursday 4th August 2011
Published on Monday 15th August 2011
Current status: Closed
Closed: Wednesday 15th August 2012
National Reserve created from share Trading
Like it or not a financial crisis will happen again and the time to do something about it is not on the eve of the abyss but now. I propose a debate on introducing a levy on each time a share is traded, at a rate to be determined, which would allow for a national reserve to be built for use in financial crisis under the management of the Bank of England thus keeping it away from the political spectrum. The levy would not deter trade from the city of London but give confidence that institutions were backed by a rock solid insurance policy that could compensate investors in critical situations. The levy would also combat short selling as any speculators profit is likely to be significantly reduced therefore building increased stability into the markets.
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