Welcome

Money has become a commodity rather than a means of exchange, trading at a volume of over US$ 1.9 trillion dollars per day. This enormous amount moves around the world without restriction, seeking maximum short-term profit. When currency speculators “bet” against a currency and rapidly withdraw billions from a country, they wreck havoc on its economy and people’s lives.

Leading economists, including the late James Tobin, Rodney Schmidt, Paul Bernd Spahn and others have proposed that the international trade in currencies be taxed in order to promote international economic stability and help prevent financial crises.

A global citizen’s movement has emerged in support of the currency transactions tax, which is also called the  “Tobin tax" or "currency transactions development levy". The tax is a means to reassert national economic sovereignty, help prevent financial crises and generate billions of dollars for global social development and environmental protection.

What's New?

The Next Step: Implementation of a Currency Transaction Development Levy (2007) Read more     Bank for International Settlements - 2004 Survey 2005 Why has FX trading surged? Explaining the BIS 2004 triennial survey 2005 A Sterling Solution - Implementing a stamp duty on sterling exchange transactions to increase development finance 2005 UNU-WIDER Study on New and Innovative Sources of Development Finance 2004		The Tobin Tax in the 21st Century: Financing Development & Promoting International Financial Stability The purpose of this paper is to consider whether the Tobin tax still has the potential to make a contribution to international development in the 21st ce [...] (Jul 2006) Read more     From Concept to Reality: On the present state of the debate on international taxes Jun 2006 Currency Transaction Tax is ready for implementation Feb 2006 NGOs Statement «on Innovative Sources of Financing for Development» Feb 2006 “Solidarity and Globalization” A Report on the Paris Ministerial Conference on Innovative Development Financing Mechanisms Feb 2006
Norway - Report on the Leading Group on Solidarity Levies to Fund Development A report on the Leading Group on Solidarity Levies to Fund Development Conference in Oslo, Feb 6-7 2007, by John W. Foster of the North-South Institute (Feb 2007) Read more     Norway Hosts Leading Group on Solidarity Levies to Fund Development Conference Feb 2007 Jacques Chirac - Chairperson Summary Feb 2006 European Parliament Passes Motion Feb 2006 United Nations Committee of Experts on International Cooperation in Tax Matters Nov 2005		Fair exchange could help poor countries grow and put a damper on bubble money (Mar 2006) Read more     Survey of foreign exchange settlement risk to be done Feb 1, 2006 Tobin-lite could raise £3bn for third world Apr 7, 2005 Central Bank Survey of Foreign Exchange and Derivatives Market Activity in 2004 Mar 17, 2005 Chirac Speech at Davos - Additional Press Links Jan 31, 2005