Market pans FX tax proposal

FRONT PAGE NEWS

BRUSSELS – The Belgian government has re-ignited the debate on taxing the FX markets, but the plan received a lukewarm response from market participants last week.

The so-called “Tobin tax” has been put on the agenda for the September 22–23 EcoFin finance minister’s meeting in Liege. The term was named after Nobel prize-winning economist James Tobin, who suggested a tax to cool currency speculation in the aftermath of the collapse of the Bretton Woods regime in the 1970s.

The plan wou