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.