British charity Oxfam joined calls for the G20 to implement a tax on global financial transactions Friday, saying it could increase to 50 billion dollars to help the poor.
In a paper published in connection with the gathering of G20 finance ministers for a meeting in London, Oxfam says, retribution, also known as the Tobin tax, is one of several actions that can be drawn from measures to reduce poverty will not hit taxpayers .
Other reforms include tax-free cash bailouts and reallocate the International Monetary Fund (IMF) which can collect a total of 280 billion U.S. dollars, said Oxfam.
"Rich countries are spending 18 trillion dollar bailout (bail out) the bank should not be allowed to tighten the budget because the reasons people fail to help the poor, especially when there are alternative sources of funding are available that will dibiaya them little or not at all," said a senior policy adviser Max Lawson.
Head regulator Financial Services Authority (FSA) UK Adair Turner caused controversy last month when he asked for a tax on financial transactions to curb the sector, which he described as "swollen".
A Tobin tax is a small tax on foreign exchange transactions, initially proposed by American economist James Tobin in the 1970s to prevent speculative trading
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