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    • News

    Aid Group Wants Financial Tax in G20 Agenda

    By Ma. Rizza Leonzon // 04 November 2010

    ActionAid International has urged Australian Prime Minister Julia Gillard to bring up the issue of imposing a tax on financial transactions to mobilize development funding in next week’s G-20 summit in South Korea.

    “The idea is to put quite a small tax on all financial transactions … to try to slow down the rate of speculation that is going on and help prevent future crises,” ActionAid International finance expert Soren Ambrose told the Australian Associated Press.

    The move is seen to raise some USD400 billion each year, according to ActionAid.

    Ambrose said half of the funding raised would be used at the national level, where the tax is applied, while the remaining half would go to global development initiatives. 

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    Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).

    About the author

    • Ma. Rizza Leonzon

      Ma. Rizza Leonzon

      As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.

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