Microsoft MCSE-2003 Certification Exam 70-431

In 2005 the Tobin tax was developed into a modern proposal by the UK NGO Stamp Out Poverty. It simplified the two-tier tax in favour of a mechanism designed solely as a means for raising development revenue. 70-292 The currency market by this time had grown to $2,000 billion a day. The possibility of a currency transaction tax for the UK was investigated by City of London firm Intelligence Capital, who found that a tax on sterling wherever it was traded in the world, 70-294 as opposed to a tax on all currencies traded in the UK, was indeed feasible and could be unilaterally implemented by the UK government.
The Sterling Stamp Duty, as it became known would be set at a rate 200 times lower than Tobin had envisaged, so that it would not adversely affect currency markets and could still raise huge sums of money. The global 70-431 currency market has since grown again to $3,200 billion a day in 2007, or £400,000 billion per annum with the trade in sterling, the fourth most traded currency in the world, worth £34,000 billion a year. A sterling stamp duty set at 0.005% would therefore raise in the region of £2 billion a year