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A free floating commentary on culture, politics, economics, and religion based on a passionate commitment to the truth and a desire graciously to refute that which is contrary to it….
"He must hold firm to the sure word as taught, so that he may be able to give instruction in sound doctrine and also to confute those who contradict it."
--Titus 1:9, Revised Standard Version
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Mervyn King rubbishes Gordon Brown’s Tobin plan
Gordon Brown’s attempts to cast himself as the architect of financial reform were dealt a humiliating blow on Tuesday after the Governor of the Bank of England rubbished the Prime Minister’s flagship proposal and allied himself with President Barack Obama.
Addressing the influential Treasury Select Committee, Mervyn King dismissed Mr Brown’s plan for a tax on financial transactions, the so-called “Tobin tax”. He said: “I don’t know anyone on the international circuit who’s enthusiastic about it ... Of all the measures being considered, the Tobin tax is probably at the bottom of the list.”
Read it all.
Filed under: * Economics, Politics • Economy • Stock Market • Taxes • Politics in General • * International News & Commentary • England / UK
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