Rudd should put Tobin tax on G20 agenda - Greens
Media Release | Spokesperson Bob Brown
Sunday 29th March 2009, 11:22am
Prime Minister Rudd should put a Tobin tax on the G20 agenda, Australian Greens Leader Bob Brown said today.
"The Tobin tax, a levy of one basis point (one one hundredth of one per cent) on international financial deals, would be a means of slowing down the speculative movements of capital that can destabilise economies - a calming measure during a crisis. Prime Minister Rudd should make sure a Tobin tax is on the G20 agenda," Senator Brown said.
"A Tobin tax could raise up to $100 billion per annum, and, for example, ensure every poverty-stricken child on the planet has clean water, enough food and a school to attend."
Senator Brown said Prime Minister Kevin Rudd should, like his European counterparts, also commit to advancing international agreement on tackling climate change, as well as reshaping the regulation of the banking and financial sector - including the adoption of ‘international principles on remuneration which reward long term success rather than excessive risk taking' and increasing the transparency and accountability of offshore tax havens.
"Prime Minister Rudd has said he will not move to curb excessive CEO salaries in Australia until there is international action. The G20 Summit is his chance to lead the charge for an international agreement on curbing salaries he has described as ‘obscene'," Senator Brown said.
Senator Brown made the comments from Brussels.

