Plaid Cymru also believes that it is high time that the banks give something back to the people for whom they work. To this end, we call for a Europe-wide tax on international banking transactions which would raise billions for meeting global challenges such as international development and climate change. Every time currency is traded across European borders by bankers, this Tobin tax would help to stabilise the volatile money markets, encourage accountability
and promote responsibility in the banking sector.
The introduction of this tax has met with opposition in the past from the London parties, the city of London, as well as international financial regulators like the International Monetary Fund (IMF)and the EU.
This article in today's Observer indicates that there has been some new thinking around the introduction with both the IMF the EC now backing its introduction and even Tory Chanchellor, George Osborne warming to the idea.
This is a real vindiction of Plaid Cymru's economic competence and their relevance to both UK and European wide monetary policy making.