Call for ‘Robin Hood tax’ approved

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Lancashire County Council’s only Green councillor has welcomed a move by the authority to agree to lobby Government to sign up to the Financial Transaction Tax, also known as a ‘Robin Hood Tax’.

The motion was proposed by Coun Gina Dowding at the county’s full council meeting and would see a tax on all stocks, bonds, foreign currency and derivatives, which could raise £250 billion a year globally.

County Coun Dowling said: “The money raised could be used to provide the vital council funding for services that are being decimated by government cuts.

“A Robin Hood Tax would ensure the number of high risk financial transactions, the gambling which helped trigger the financial crisis, would be curtailed.“