Don't let a backlash knock out Tobin tax
09 November 2009
Gordon Brown has added to the momentum pushing for a tax on global financial transactions. But the battle is far from won
Gordon Brown's statement of support for a tax on global financial transactions is a welcome call on the banks to repay their debt to society. It is also a victory for the international Tobin tax movement, which has laboured hard for this moment over many years. Our task now is to fight the political backlash which is already mounting, and to defend the idea of financial transaction taxes as a means to the progressive redistribution of economic gains.
John Hilary is Executive Director of War on Want and writes regularly for The Guardian's Comment is Free blog
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