Tax financial transactions to help Covid recovery, G20 told

Economists say Tobin taxes would raise vital funds to help support global poor and tackle climate crisis

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The world's leading developed and developing countries have been told a tax on financial transactions could help them raise around $100bn a year to meet the costs of the Covid-19 pandemic, tackle climate change and boost job creation.

Ahead of a meeting of G20 finance ministers in Venice on Friday, a letter from more than 100 economists said the immediate introduction of a financial transactions tax (FTT) would make economies more resilient and generate much-needed public investment.