Finian McGrath (Dublin North Central, Independent)

My second proposal is that the Minister should look at another taxation system which has been floating around Europe during the summer. This would see 0.5% of every euro spent on business related financial transactions, or merely 50 cent in every €1,000, levied on those involved in the transaction. This is not a tax on banks, which are prone to making losses, but on the transactions themselves, such as financial speculation and other purchases. Globally, it is estimated that this mechanism could raise €500 billion a year, money that could be used to tackle poverty and climate change issues at home and abroad and lessen the cuts to the poor, the disabled and special needs assistants.

See this speech in context