What a report, eh?

Ritchie flags up this in the FT.

The report, entitled Taxing Banks, proposes a global 0.005 per cent tax on currency exchanges and derivatives.

The report, authored by the Trades Union Congress, Christian Aid, Tax Justice Network, Tax Research UK and the Task Force on Financial Integrity and Economic Development,

A hugely impressive list I think you\’ll agree.

Well, except…..

TUC: advisor on international tax issues: Richard Murphy.

Christian Aid. Advisor on international tax issues: Richard Murphy.

Tax Justice Network: main bod: Richard Murphy.

Tax Research UK: this is Richard Murphy.

TFFIED: not Richard Murphy directly, but their reports on international taxation all quote, draw upon and use the methodologies of the TUC, Christian Aid, Tax Justice Network and Tax Research UK. That is, Richard Murphy.

In short, the whole alphabet soup is a self-referential cobweb with, at the centre, a retired accountant whose speciality in the trade was advising self employed actors, musicians and artists on their personal tax returns.

Now I entirely agree that it\’s possible for people to flower, grow and learn: I\’ve no qualifications or work experience that justify my own propensity to adjudge matters economic. But if we\’re talking about changing the taxation system for the entire financial world, shouldn\’t we be looking for a slightly wider base, a slightly less individual source of information?

3 comments on “What a report, eh?

  1. Not to mention in the last 24 hours alone, I’ve seen this putative tax reported to be 0.5%, 0.05%, and now 0.005%.

    Either people no longer understand maths, or this has become the Incredible Shrinking Robbin’ Hood Tax…

  2. Bellagerens, I’m not sure the advocates of higher taxation are all that clear on the concept of decimal points.

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