MEP calls for tax on the big money men

LOTHIANS-BASED Euro MP David Martin has backed calls for a "Robin Hood" tax on international transactions by big financiers.

He met campaigners who took their case to the European Parliament ahead of an EU summit in Brussels.

Charities including Oxfam and Friends of the Earth are calling for the tax, which would place a tiny levy on the international operations of big banks.

Money raised would be used to support public services and to help tackle global poverty and climate change.

Mr Martin said: "This isn't something that would affect consumers who send money abroad. It's about the really big transactions made by international financiers.

"An international transaction tax would reduce volatile and risky financial speculation while raising billions to help tackle climate change and help developing countries."

Earlier this month the European Parliament backed a resolution calling for the European Commission to make progress on ways to implement such a tax.