No 'Robin Hood' financial transaction tax coming to Australia, says Wayne Swan

Dublin Core

Title

No 'Robin Hood' financial transaction tax coming to Australia, says Wayne Swan

Subject

Australian businesses, bank, business, economic crisis, economic growth, economy, finance, financial transaction tax, folklore, France, investor, Nicolas Sarkozy, outlaw, penalty, revenue, Robin Hood, “Robin Hood” tax, tax, treasury, Wayne Swan

Description

This article from the online news site Perth Now reports on Australian Federal Treasurer Wayne Swan’s decision not follow the lead of European nations such as France and introduce a financial transactions tax to deal with economic crisis. Such a measure would slow economic growth, Swan said, because it would affect the transactions that Australian businesses engaged in every day and raise the cost of capital. French President Nicolas Sarkozy’s plan to introduce a 0.1 per cent tax on all financial transactions has been dubbed a “Robin Hood” tax. This name stems from the legendary medieval outlaw who stole from the rich to give to the poor, because it imposes taxation on businesses and investors in order to help the ailing economy.

Creator

Unknown

Source

Perth Now

Publisher

Perth Now

Date

30 January 2012

Rights

Perth Now

Format

Hyperlink

Language

Language

Files

Citation

“No 'Robin Hood' financial transaction tax coming to Australia, says Wayne Swan,” Medievalism in Australian Cultural Memory, accessed October 19, 2021, https://ausmed.arts.uwa.edu.au/items/show/788.