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World economists urge Robin Hood tax on Banks

World economists urge G20 ministers to accept Robin Hood tax
1,000 number-crunchers have written to policymakers asking them to impose levy on City speculators to help poor

Professor Jeffrey Sachs, director of the Earth Institute, was one of several economists who supported the letter.
If the nine economists on the Bank of England's monetary policy committee can never agree, it should be harder than herding cats to round up a thousand practitioners of the dismal science and get them all saying the same thing.

But 1,000 eminent number-crunchers from more than 50 countries have written to G20 finance ministers, urging them to slap a tax on City speculators to help the world's poor.

They may not have spotted the credit crunch coming, but academic economists from top universities including Harvard, Cambridge, Kyoto and the Sorbonne now agree that bankers should pay the price.

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