So EG, would it work? I see that the "
how it works" page says "By taking an average of 0.05% from speculative banking transactions, hundreds of billions of pounds would be raised every year." What exactly are
speculative banking transactions, I wonder? Because by those numbers, they are turning over at least £2 trillion per year. Is that just in the UK? Does this mean a tax on stock market transactions? Wouldn't that just kill off the FTSE for good?
I guess one of the lessons of the recent financial crisis is that there's a hell of a lot of virtual money sloshing around out there. The problems started when everyone tried to cash it in at once. Can you tax virtual money, and change it into real money?
