WHY TAX THE FINANCIAL SECTOR?

Because it's responsible for a big part of the mess we're in.

Because it has an obligation to all of us to help clear it up.

Because it is under taxed - so it can afford to do so.

A tiny tax on the financial sector could generate over billions annually in the UK alone. That's enough to protect schools and hospitals. Enough to stop massive cuts across the public sector. Enough to transform lives around the world – and to deal with the new climate challenges our world is facing.

Because according to the Bank of England, the fact that the government will not let the big banks go bust means that they effectively get a subsidy of £100 billion pounds from the UK taxpayer each year. But the banks have already started to report record profits and pay themselves enormous bonuses once again. Since the financial crisis, bankers have been paid out over £100bn in bonuses.

Because the IMF and many other financial commentators believe that the banking sector is under taxed, and has grown to become dangerously large and destabilising for the global economy, as we saw when the crisis hit in 2008. Former FSA Chairman Lord Turner has described a portion of the financial sector as ‘socially useless’.

Because it's time for the financial sector to make a greater contribution to the society it serves.