Anorak | Now That Europe’s Got A Robin Hood Tax Let’s Not Have One

Now That Europe’s Got A Robin Hood Tax Let’s Not Have One

by | 24th, January 2013

THE Robin Hood Tax people are all ever so excited. Half the countries over in the eurozone have now been given permission to have one and it looks like France will get one around the end of 2014. The argument is thus that because they’re all getting such a lovely financial transactions tax therefore we should immediately run off and do the same thing.

However, the correct argument would be, well, seeing as they’re doing this experiemtn why don’t we wait and see what the results are? You know, just check that all hte claims being made about such a tax are in fact correct?

Most of the claims being bandied about will be very hard to check. For example, opponents of the tax, like me, point to the EU’s own report which says that it will shrink the economy from where it would otherwise have been. A bit difficult to prove that: there’s no way of showing that the French economy in 2020 would have been €2 trillion instead of the €1.95 trillion it actually is without the tax.

Similarly, it’s very difficult to point to the taxes that aren’t collected  because the economy is smaller. We’ll all see the revenue marked “Robin Hood Tax” but not that that

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Posted: 24th, January 2013 | In: Money Comments (6) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink