Oxfam Australia Seeks Creation of Robin Hood Tax for Bank Transactions

Oxfam Australia is urging Australian Treasurer Wayne Swan to push for a “Robin Hood” tax on bank transactions when he attends the meeting of G-20 finance ministers in Washington. By implementing a 0.05 percent financial transaction tax, the world can raise up to USD400 billion every year, Oxfam Australia Executive Director Andrew Hewett said, according to the Herald Sun.

“This tax could solve many of the world’s major problems, without costing ordinary citizens a penny,” Hewett was quoted as saying.

About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.

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