Tax on Finanical Transactions: An Implementation Guide

Commissioned by UNITAID, September 2011

The Gates Foundation, November 2011According to this report banks enjoy an implicit subsidy from taxpayers; because they will be bailed out, if necessary, markets view lending to them as low risk.

It estimates that in 2010 the ‘big five’ UK banks enjoyed a combined ‘too big to fail’ (TBTF) subsidy of £46 billion. Subsquently banks have come to occupy a unique and privileged economic position in relation to their customers and to other industries, enabling them to make excessive profits.

Please download the Tax on Finanical Transactions: An Implementation Guide document as a pdf (2MB).