The financial transactions tax (FTT), also known as the Tobin tax and the Robin Hood Tax, has been the stuff of legend for decades, discussed eagerly by academics and socialist economists, without ever gaining much traction in the mainstream. The financial crisis changed all that and, now José Manuel Barroso, president of the European Commission, has come forward with a proposal for an EU-wide FTT, everyone will be talking about it.
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Two months since EU political agreement on pillar two and few member states have made progress on new national laws, but the arrival of OECD technical guidance should quicken the pace. Ralph Cunningham reports.