It is also thought that Transaction taxes  will reduce the number of the most risky transactions occurring which helped to trigger the recent financial  crises.

*  A Bank Levy

This is basically a flat-rate levy imposed on large financial institutions. Under huge pressure from their voters and from campaigners, a number of countries, including the UK, France and Germany have already introduced a bank levy, but at rates that have not raised nearly enough to be effective in helping the poor and the planet.

* The Financial Activities Tax (FAT)

  Supporters of this tax claim that it could raise billions through taxing excess profits and remuneration. Broadly, it is equivalent to a GST-type tax, but that it is only levied on the financial sector. It is estimated that it could raise £3.9 billion a year in the UK alone – and up to $93 billion across the OECD countries. The UK government has said it is open to implementing a FAT tax, but only together with a group of other countries, for example at EU level.

I believe that if we want to develop programs that will effectively combat world poverty and protect our environment, these initiatives should be strongly supported. Such taxes would not impose an extra financial burden on the poorest in the world community, but would ensure that super wealthy individuals and corporations, including those who currently pay very
little or no tax because of legal loop-holes, would contribute their fair share into combatting

poverty and improving the world’s environment.  

Yours sincerely