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U.K. Needs ‘Robust’ Debate on Tobin Tax, Archbishop Writes in FT

The U.K. needs a “robust public discussion” about whether it should introduce a so-called Tobin tax on financial transactions as opposed to the U.K. government’s proposals for direct taxation of banks’ assets, Archbishop of Canterbury Rowan Williams writes in the Financial Times.

The discussion would serve “to assess the advantage of a co-ordinated approach across Europe and to inquire into how far the government’s preferred option will guarantee the domestic and international development goals central to the ‘‘Robin Hood’’ proposals,” he writes in the Financial Times.

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