09-03-2002, 10:53 PM
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Join Date: Oct 2001
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Quote:
<h2><font color=#003399>Chirac to back "global </font><font color=red><u>tax</u></font>"<font color=#003399> talks</font></h2>
 French President Jacques Chirac will urge world leaders to launch talks on a new international tax to fight world poverty, sources with him at the Earth Summit in Johannesburg say.
The sources said Chirac rejected the existing "Tobin Tax" proposal to raise levies purely on foreign exchange transactions but would call in a speech to the summit for discussion on a wider tax on wealth generated by globalisation.
"It could be a tax on airplane tickets, on carbon dioxide, on health products sold in industrialised countries, and indeed on international financial transactions," one source said.
The Tobin Tax, championed by non-governmental groups as a way both to raise funds and to deter financial speculation, attracted much interest particularly in Europe last year but since appears to have fallen out of favour.
The sources close to Chirac, who was due to speak in Johannesburg around midday local time (11 a.m. British time) on Monday, pointed to studies suggesting global development aid would have to be doubled to around $100 billion (64 billion pounds) to really fight poverty.
Full Story <font color="red"><u>Here</u></font>
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